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.
