Scott Thompson, CEO of Yahoo! and former president of Paypal, has come under fire recently after it was discovered that he doesn’t have the computer science degree that he claimed to have earned on his résumé. It was revealed that Thompson has a degree in accounting from Stonehill College, but not a degree in “accounting and computer science” as had previously been thought.
Third Point CEO Daniel Loeb looked into Thompson’s credentials and discovered that Stonehill College doesn’t offer computer science degrees. Loeb also revealed that the head of the search committee, Patti Hart, has a business administration degree and not a “bachelors in marketing and economics.” The company owns a 5.8% stake in Yahoo!, and is trying to gain a more advantageous position within the company.
Loeb believes this results in a breach of ethics for Yahoo!, and wrote to the board requesting that immediate action be taken if there isn’t a good explanation for the discrepancies. Yahoo! meanwhile says that it was an “inadvertent error”, confirming the correct qualifications for both parties involved. The company says that the error doesn’t diminish Thompson’s achievements or that he is a “highly qualified executive with a successful track record.”
Yahoo! issued an additional statement saying that the company will be “reviewing [the] matter” and inform shareholders of the results once the review is finished. Meanwhile, the trust on the board is said to be shaken, with one member saying that the team is “deeply concerned.”