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Monday, 14 May 2012 06:47

Yahoo boss Thompson resigns amid phony credentials storm

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Yahoo CEO Scott Thompson has handed in his resignation after further evidence emerged that he deliberately misstated his academic credentials, according to a News Limited report. Thompson, who was the president of eBay before his current role at the troubled Internet giant, could face termination without any severance pay because his bio wrongly stated that he has a computer science degree.

Last week it emerged that Thompson's bio as stated on the Yahoo corporate website, Yahoo regulatory filings, and previously the eBay website, had listed Mr Thompson as having both an accounting degree and a computer science degree. However, it has recently emerged that Mr Thompson only has an accounting degree.

Yahoo, which is undergoing major ructions, has recently laid off 2,000 workers and the latest scandal over Thompson's credentials is yet another blow to the once dominant Internet company's dwindling standing in the marketplace.

When news of the error initially broke, Mr Thompson reportedly blamed the recruitment firm Heidrick and Struggles for incorrectly putting the incorrect information in his bio when they drafted it for eBay years ago.

However, the recruitment firm has been quick to deny this, according to latest reports, saying it has verifiable proof because it holds Thompson's original resume submission to the firm, which lists a computer science degree.

While Thompson has voluntarily tendered his resignation, reports say the Yahoo board intends to assess whether it can fire the former CEO with cause, which would deny Thompson any severance pay said to be worth millions.


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Stan Beer

 

Stan Beer co-founded iTWire in 2005. With 30 plus years of experience working in IT and Australian technology media, Beer has published articles in most of the IT publications that have mattered, including the AFR, The Australian, SMH, The Age, as well as a multitude of trade publications.

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