Remember Yahoo!? It used to be the world’s most popular search engine back in the day. Now most people only remember it when they need to check their e-mail and to read up on the news.
Well, to bolster their flagging fortunes after they fired their last CEO, Carol Bartz (who was notorious for using the F-word quite a bit; see here, here, and here), it seems they hired a liar, to replace the swearer.
It turns out that Scott Thompson (who was the President of e-trading giant PayPal, before he was hired by Yahoo!) fudged on his résumé that he graduated from Stonehill College with a degree in both accounting and computer science. After a thorough check however, it seems he only graduated with accounting listed as his major. After initially trying to combat the discovery, Thompson has agreed to step down from the CEO position.
His ousting is the result of his running battle with Yahoo! investor, Daniel Loeb, who, through his hedge fund, Third Point (and Yahoo!’s largest outside shareholder), had sought to kick the beleaguered CEO out of the company and instead install four new directors on the board. It seems half his battle is already won.
In his defense, Thompson claims that he never provided his resume to either PayPal (where his company profile also has the discrepancy) or to Yahoo!. Instead he blames the executive hiring firm, who typically compile a dossier on potential candidates and hand over to the firm they hire for.