Yahoo CEO Scott Thompson Exits; Reportedly Has Cancer
Ross Levinsohn Named Interim CEO
May 14, 2012 at 10:19 AM (PT)
It is now official that YAHOO CEO SCOTT THOMPSON has stepped down in the wake of revelations that he falsely claimed to have a Computer Science degree. However, the WALL STREET JOURNAL reports that he also told the board of directors and several colleagues that he has been diagnosed with thyroid cancer. Meanwhile, his CEO duties will be assumed on an Interim basis by Head Of Global Media ROSS LEVINSOHN.
Thus, THOMPSON's decision to exit is now attributed to two reasons: THOMPSON's biography in the YAHOO regulatory filing and other websites that said he had earned a Bachelor's degree in Accounting and Computer Science, when he only had earned an Accounting degree; and his cancer diagnosis, which had occurred just days earlier.
LEVINSOHN's appointment as Interim CEO coincides with YAHOO's deal to conclude a proxy fight with THIRD POINT LLC, by appointing several new board members, including THIRD POINT head DAN LOEB. THIRD POINT, a large YAHOO shareholder, is a hedge fund that discovered THOMPSON's misstated academic record in a YAHOO regulatory filing in late APRIL and disclosed its finding on MAY 3rd.