Investor call for netco chief to resign today
A major Yahoo investor is calling for CEO Scott Thompson to step down due to a misstatement on his resume about his college degree, only a short time after he took the top job.
Thompson, who ran e-commerce group Paypal, moved to Yahoo in January. Several weeks ago, the company announced plans to lay off about 2,000 employees and refocus on core businesses.
But late last week, activist investor Daniel Loeb of hedge fund Third Point accused Thompson of padding his resume by claiming a degree in computer science. His degree from Stonehill College outside Boston is in accounting. Loeb demanded Thompson’s resignation by today at noon.
Yahoo on Friday called the degree description an “inadvertent error” and said it was examining the situation.