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Yahoo CEO apologises to staff for lying on CV

Sent a memo expressing his regret
Tue May 08 2012, 12:09

INTERNET PORTAL Yahoo's CEO Scott Thompson has apologised to employees at the firm after he was accused of lying on his CV last week.

According to a report at Reuters, Thompson sent a memo to Yahoo staff expressing his regret that the issue was getting in the way of the company's fortunes.

"I want you to know how deeply I regret how this issue has affected the company and all of you. We have all been working very hard to move the company forward and this has had the opposite effect. For that, I take full responsibility, and I want to apologise to you," he said.

"I am hopeful that this matter will be concluded promptly."

Yahoo's board of directors is conducting an investigation of the allegations made against Thompson by hedge fund Third Point's founder and CEO Dan Loeb that he "embellished his academic credentials".

Loeb brought the discrepancy to attention in a letter addressed to the board, which said that Thompson's claim to hold a bachelor's degree in accounting and computer science from Stonehill College near Boston was "padded out" because he in fact got a degree in accounting only.

Loeb also said in the letter that if Thompson embellished his academic credentials, it "undermines his credibility as a technology expert [and] reflects poorly on the character of the [chief executive] who has been tasked with leading Yahoo at this critical juncture".

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

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 analysts' expectations of 17 cents a share. µ


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