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Yahoo CEO ‘lied’, doesn’t have degree in computer science | Yahoo CEO Scott Thompson does not hold a degree in computer science in contrast to his past claims, it has emerged.
The embarrassing revelation surfaced after Daniel Loeb, founder of the fund Third
Point and a major shareholder in Yahoo exposed the truth about Thompson. He claimed
that Thompson doesn't have a bachelor's degree in computer science from Stonehill
College near Boston , as the company stated in regulatory documents filed last
week. Even Thompson's official biography at his last job, with PayPal, made the
same claim about his academic credentials. However, actually he only studied accounting
and Stonehill did not even offer computer science degrees until four years after
he graduated. Loeb made the allegation in a letter on Thursday to Yahoo's board
of directors. Although Yahoo Inc. confirmed the findings, the company attributed
this misinformation to an 'inadvertent error.' Loeb, who controls a 5.8 per cent
stake in Yahoo, is leading a campaign to shake up the company's board so he can
help come up with a strategy to boost the company's long-slumping stock price.
He alleged that the mix-up over Thompson's educational background discredited
the company as a whole. “If misrepresentations were made, they would confirm yet
again that Yahoo! is in dire need of a complete corporate governance overhaul,”
the Daily Mail quoted Loeb, as saying. He said that the situation “reflects poorly
on the character of the CEO who has been tasked with leading Yahoo! at this critical
juncture”. Loeb claimed to have made his discovery simply by searching Thompson's
name on Google. However, Yahoo defended its CEO, who joined the firm in January.
The firm said Scott Thompson was 'a highly qualified executive with a successful
track record leading large consumer technology companies'.
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