Yahoo Admits CEO Scott Thompson Education Error

Two Yahoo leaders found themselves defending college degrees today.

"Press:Here" talks with Scott Thompson of PayPal.

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." 

"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.


Contact Us