Scott Thompson's inflated resume helped win him his current job as Yahoo CEO. And now it's reportedly led to the end of a job as well -- just not his own.
The Yahoo director who led the search that ended in Thompson's appointment, Patti Hart, will not stand for re-election to the board at its next annual meeting, All Things D reports. Hart, the CEO of slot-machine maker International Gaming Technology, will apparently take the fall for what ATD's Kara Swisher termed "a clearly botched vetting of [Thompson's] academic record.
In case you've been living under a rock, the Yahoo CEO has been taking heavy fire ever since activist investor Daniel Loeb pointed out last week that Thompson's resume listed an undergraduate computer-science degree he had never received. Loeb, who is prepping a proxy fight aimed at placing a slate of new directors (himself included) on Yahoo's board, demands that Yahoo turn over all records related to Thompson and the search process.
The resulting firestorm is just the latest conflagration for Yahoo, which was already reeling from a steady decline in the relevance of its Internet business and an ill-advised patent offensive against Facebook it launched in March.
Thompson, named CEO just four months ago, was supposed to lead the turnaround, although his only move so far has been to lay off 2,000 employees and to reorganize the company into three amorphous groups.
(courtesy:cnet.com)
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