Yahoo! CEO Steps Down Amid Resume Padding Shocker

May 14th, 2012 at 6:29 pm

Yahoo has confirmed that its CEO, Scott Thompson, has “left the company” after it was found he padded his resume with a computer science degree that he never received. Thompson served in the struggling Internet pioneer for just four months.

Ross Levinsohn, Yahoo’s media chief, will be named interim CEO.

The scandal began almost two weeks ago, when it was revealed that Thompson lied about his education background. He has since apologized for the incident.

Thompson’s resignation, however, had nothing to do about the scrutiny he received. Media sources report that he stepped down as Yahoo CEO partly due to his recent diagnose of thyroid cancer.

Also included in Yahoo’s executive shuffle are the three new members of the board of directors, as proposed by Third Point–which revealed about Thompson’s resume padding: Harry Wilson, CEO of corporate restructuring and turnaround firm Maeva; Michael Wolf, CEO of media consulting company Activate; and Daniel Loeb, founder of Third Point, the largest outside shareholder of Yahoo. The company has also named Fred Amoroso, an existing board member as chairman.

Source: CNN Money