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Yahoo CEO is accused of lying on CV

Board of directors is investigating
Fri May 04 2012, 10:17

INTERNET PORTAL Yahoo's board of directors is investigating the academic credentials of the company's recently hired CEO Scott Thompson after he was accused of lying on his CV.

Reuters reports that hedge fund Third Point's founder and CEO Dan Loeb said Thompson's claim to hold a bachelor's degree in accounting and computer science from Stonehill College near Boston was "padded out".

Loeb said Thompson "embellished his academic credentials" because he in fact got a degree in accounting only. Third Point owns 5.81 per cent of Yahoo's shares and is seeking more seats on the company's board.

A Yahoo spokesman told The INQUIRER that the academic discrepancy was simply an "inadvertent error".

"Scott Thompson's degree at Stonehill College was in bachelor science in accounting. There was an inadvertent error that stated Thompson also holds a degree in computer science," the statement read. 

"This, in no way, alters that fact that Mr. Thompson is a highly qualified executive with a successful track record leading large consumer technology companies," it added.

Last month Yahoo reported growth for the first time in three years, which reflected well on Thompson. During the company's first quarter earnings call, Thomson said that Yahoo's net income grew 28 per cent to $286m or 23 cents a share, beating Wall Street analyst expectations of 17 cents a share. µ

 

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