Yahoo! CEO to step down
Posted May 13, 2012 10:55 am.
This article is more than 5 years old.
SAN FRANCISCO, CA (NEWS1130) – The Wall Street Journal is reporting that Scott Thompson, CEO of Yahoo! will be stepping down.
The journal cited multiple unnamed sources close to the situation, reporting that the internet giant will say Thompson is stepping down for personal reasons. Thompson has come under fire for mentions on his resume of a computer science degree that he never received.
The journal also reported the Yahoo! Inc. board will meet today to accept the resignation and appoint the company’s global media head, Ross Levinsohn, as interim CEO.
The board will also select new directors and a new chairman. The new board members are expected to be three of those nominated by Daniel Loeb, an activist shareholder and manager of hedge fund Third Point.
Loeb was the one to discover Thompson’s resume discrepancy.
