The CEO leaves Yahoo after they find out he lied about his degree
Yahoo CEO Scott Thompson has been forced to leave his position in the company after it came to light that he had lied about his graduate degree. The news came to light when a shareholder group headed up by Dan Loeb founder of Third Point who own 5.8% of yahoo alleged that Thompson had padded his CV claiming a fake computer science degree.
Third Point had been actively lobbying for a change in the business for the last six months and it looks like they now have got their way with new Interim CEO Ross Levinsohn taking the reins in the mean time along with a massive board restructure including Dan Leob himself and two nominees chosen by Leob. Four other members of the board will also be stepping down immediately.
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