Activist investor points out Yahoo CEO's resume

Yahoo has confirmed that its recently hired CEO Scott Thompson had incorrect information on his resume, but said it was an "inadvertent error."

Yahoo has confirmed that its recently hired CEO Scott Thompson had incorrect information on his resume, but said it was an “inadvertent error.”

The information was first brought to attention by shareholder Daniel Loeb, a New York hedge fund manager at ThirdPoint, who questioned Thompson's integrity and qualifications after realizing that the education record on his resume seemed incorrect.

Thompson's resume, which was listed in a regulatory filing with the Securities and Exchange Commission, noted a bachelor's degree in computer science from Stonehill College. In fact, he only has an accounting degree from the school.  

Despite Yahoo calling the resume situation an inadvertent error, Loeb has said it is a violation of Yahoo's code of ethics.

In a letter to the Yahoo board of directors, listed in full here, Loeb noted that Stonehill did not award computer science degrees until four years after Thompson graduated. He also said: “If Thompson embellished his academic credentials, we think that it 1) undermines his credibility as a technology expert and 2) reflects poorly on the character of the CEO who has been tasked with leading Yahoo at this critical juncture. Now more than ever, Yahoo investors need a trustworthy CEO.”

It will be interesting to see what unfolds in the days ahead for Thompson and Yahoo as the uproar about the situation amongst investors, the board, employees, and general consumers builds.

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