Yahoo Admits CEO Scott Thompson Education Error

Two Yahoo leaders found themselves defending college degrees today.

By Lori Preuitt
|  Monday, May 7, 2012  |  Updated 10:26 AM PDT
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Yahoo CEO Scott Thompson has a glaring error on his resume. Is it a lie or a clerical error?

Yahoo CEO Scott Thompson has a glaring error on his resume. Is it a lie or a clerical error?

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Yahoo's new CEO found himself in the middle of a resume scandal Thursday after a man named Daniel Loeb claimed he discovered Scott Thompson didn't have the degree listed in a regulatory document.

Loeb and his hedge fund Third Point are leading a campaign to shake up Yahoo's board.
 
Loeb owns a 5.8 percent stake in Yahoo. Loeb claimed Thompson only has a bachelor's degree in accounting from Stonehill College and not in computer science as well. He made the allegation in a letter to Yahoo's board of directors Thursday. 

In it he says, "If Mr. Thompson embellished his academic credentials we think that it 1) undermines his credibility as a technology expert and 2) reflects poorly on the character of the CEO who has been tasked with leading Yahoo! at this critical juncture. Now more than ever Yahoo! investors need a trustworthy CEO." (Read complete letter here.)

Yahoo confirmed the error, but declared it "inadvertent."  "Press:Here" talks with Scott Thompson of PayPal.

"Scott Thompson received a bachelor of science degree in business administration with a major in accounting from Stonehill college. There was an inadvertent error that stated Mr. Thompson also holds a degree in computer science. 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. Under Mr. Thompson's leadership, Yahoo! Is moving forward to grow the company and drive shareholder value," Yahoo said in a statement.
 
NBC Bay Area's Scott McGrew said Thompson is not the only one accused. According to Yahoo, company director Patti Hart states she has a degree from Illinois State in economics and marketing when in fact she received a degree in business administration. 

McGrew points out that neither revelation means the two are incapable of running Yahoo, but says its a terrible blow for employees who have largely rallied around their new leader in hopes he will finally be the CEO who restores Yahoo to some sort of semblance or order.

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