Yahoo CEO Says He Didn't Provide Fudged Resume

Yahoo Scott Thompson CEO resumeBy Michael Liedtke


SAN FRANCISCO -- Yahoo CEO Scott Thompson is assuring his colleagues that he didn't supply the incorrect information that led the troubled Internet company to list a bogus college degree in his official biography, according to a person familiar with the matter.

Thompson told other top Yahoo executives at a Thursday meeting that he never provided Yahoo with a resume or incorrect information about his academic credentials, the source said. The person asked not to be identified because the meeting was considered to be private. Yahoo Inc. declined to comment. Reuters first reported Thompson's remarks.

It's the first time that Thompson has explicitly denied lying to Yahoo about his educational record before or after the company hired him in January.

Thompson summoned the executives as he fights to save his own job and bolster the morale of Yahoo employees. Company workers were still recovering from the shock of 2,000 layoff notices being handed out last month when serious questions arose about their new CEO's credibility.

Thompson's integrity is under attack because a dissident Yahoo shareholder last week revealed that his bio included a computer science degree that he never received. The shareholder, activist hedge fund manager Daniel Loeb, is demanding that Yahoo's board fire Thompson for unethical conduct - a penalty that corporate governance experts say may well be merited.

Yahoo's board has created a three-person committee to investigate how the illusory degree ended up in a Thompson bio that appeared on the company's website and in materials filed with regulators on April 27. The misinformation also periodically appeared in other bios citing Thompson's accomplishments for several years before Yahoo lured him away from eBay Inc.'s online payment service, PayPal.

Ebay never listed Thompson's non-existent degree in its legal filings with the Securities and Exchange Commission.

In his Thursday meeting, Thompson blamed the mix-up on an unidentified executive search firm and said he didn't notice the bogus degree on his bio, according to the person who talked to The Associated Press.

Thompson's explanation still doesn't clear up the mystery surrounding the fabricated degree.

The original source of the falsehood remains unknown. Also left unanswered is why Thompson never bothered to set the record straight during the numerous times that the bogus degree appeared on his bio, or why Yahoo's board apparently never asked him for a resume before he was hired. Corporate governance experts say it's routine for a board to conduct thorough background checks on all CEO candidates. It's also considered a CEO's responsibility for his bio to be accurate, especially the information that is being filed with the SEC.

The flap over Thompson's incorrect bio already has claimed one casualty - Patti Hart, the Yahoo director who oversaw the search that culminated in Thompson getting the job. Hart is surrendering her board seat at the company's still-unscheduled annual meeting later this year.

The uproar also is bolstering Loeb's campaign to elect himself and three allies to Yahoo's board. Loeb's fund, Third Point LCC, contends the Yahoo needs more help to snap out of a long-running financial funk that has depressed its stock for more than three years. Third Point owns a 5.8 percent stake in Yahoo.

As part of his effort to rally support, Loeb revealed Thursday that Yahoo has decided only investors who own company shares as of May 17 will be eligible to vote at the meeting. Yahoo hadn't disclosed that date in SEC filings, but has shared it with brokers, banks and candidates for its board. Investors who don't currently own Yahoo stock and want to vote at the meeting need to buy shares in the company by May 14 to ensure the holdings are on the books by May 17.

Yahoo, which is based in Sunnyvale, Calif., usually holds it in late June, but the meeting was delayed until August the last time that an unhappy shareholder tried to shake up Yahoo's board in 2008.


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Third Point Presses Yahoo for New CEO

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stinkyheadzzz

Lies gets caught lies MORE then get another job RIGHT AWAY. The DIFFERENCE between the 1% & 99% in a nutshell. 0 '12

May 14 2012 at 1:24 AM Report abuse rate up rate down Reply
Steve

Sounds like Scott Thompson is trying to cover one lie with another lie.

The Bible tells us about the doom of those who make lies their refuge. Two wrongs will never make a right, and we currently have a person trying to lead the Nation, trying to use these tactics, as he continues to amass lies upon lies. He is continuing to be corrupted by power, as the corruption is snowballing on him, and I'd dare say, unless this man gets right with God, his end will be tragic indeed.

Time and eternity will tell the story.

May 14 2012 at 1:19 AM Report abuse rate up rate down Reply
1 reply to Steve's comment
Hilltop Guy

Hatred and judging others is not really in God's plan either. You might want to consider Jesus' advice to " love one another".

May 14 2012 at 8:22 AM Report abuse rate up rate down Reply
IN MY OPINION ONLY

Company workers were still recovering from the shock of 2,000 layoff notices being handed out last month when serious questions arose about their new CEO's credibility.

See?

Execute Scott Thompson for treason.

May 14 2012 at 1:16 AM Report abuse rate up rate down Reply
Jc2009USA

Question?: Does he thing that the word "fudge" is inter-changable for the word "LIAR or LYING"?

May 14 2012 at 12:28 AM Report abuse rate up rate down Reply
wrathster

Forget the resume, hows his work peformance,is he doing what they hired him for and is he doing it well,no then Id let him go ,profits up ,brighter future,then Id keep keep him on.Unless we have all the facts,all we have is he said ,she said.

May 13 2012 at 9:00 PM Report abuse rate up rate down Reply
1 reply to wrathster's comment
sevnwolves

Yeah, that's right, may as well allow a fraud to keep the job he got by lying. Excellent set of morals you have there.

May 13 2012 at 10:48 PM Report abuse rate up rate down Reply
morphiss7

Typical greedy CEO, he didnt know it was on there ? hahahahahahah
He caught caught now hes lying about that. Typical - no responsbility !

May 13 2012 at 2:48 PM Report abuse rate up rate down Reply
mrshye1

It really doesn't matter. He can get an online degree in a few minutes if he wants. I think it was the PA. Governor who did an expose a few years ago. She said there are so many bogus degrees in government and private that she was shocked. No one seems to check much or cares.
She got one in a few days. She is now a degree and can do brain surgery. LOL

May 13 2012 at 1:16 PM Report abuse rate up rate down Reply
1 reply to mrshye1's comment
mail33006

There has never been a female Governor of Pennsylvania.

May 13 2012 at 10:31 PM Report abuse +1 rate up rate down Reply
pilot3388u

This is comon practice. He just got caught. You could bust most CEO's resume's. They spent a lot of money checking this guy out before hiring him, they knew. Chances are, the company embelished it, and he saw no harm. They like to sell confidence. Watch, they will fire him and not one of the so called idiots that hired him that did the back ground will leave.

May 13 2012 at 11:56 AM Report abuse rate up rate down Reply
billdollar

He needs to be fired sooner rather that later for lying on his resume. Only a guy like Larry Ellison can lie on his resume and get away with it becuase Larry owns Oracle Corporation. After Larry got caugh lying about both a Bachelors and Masters when in fact he dropped out of college he blamed the PR department on the emblishment on his resume.

May 13 2012 at 11:25 AM Report abuse rate up rate down Reply
dsm

Hmmmm, Loeb is the one who finds it out and Loeb is the one campaigning himself and his 3 cronies to get on the Board.

May 13 2012 at 10:24 AM Report abuse rate up rate down Reply

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