Yahoo confirms CEO is out after resume scandal, page

Yahoo confirms CEO is out after resume scandal

money.cnn.com

NEW YORK (CNNMoney) -- Yahoo CEO Scott Thompson is out after it was found he padded his resume with an embellished college degree, ending his term at the company after just four months.

Yahoo confirmed Thompson "has left the company" in a statement posted late Sunday, after two news reports. Tech blog AllThingsD was the first to report the news, and the New York Times followed up with its own article.











Yahoo media chief Ross Levinsohn will be named interim CEO, the company said. Levinsohn had earlier been rumored as a successor to Carol Bartz, who was fired from Yaho

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I've done a search for this on ATS but haven't seen it anywhere so here it goes.

I've been reading up on this and it's pretty interesting.

Turns out the person that was in charge of the CEO selection committee is also stepping down after the end of her term.

There are a couple of things I was thinking about all of this.. It's probable that the guy just lied and got caught. But what really happened here?

Did they just decide to reign this guy in because the company wasn't doing that great? If the company was raking in money, I don't think they'd be so quick on the trigger.

Did he get "selected" for a CEO position that he didn't really deserve for some reasons that have yet to be known? It's possible. Also, you have to wonder if this was some kind of error, either deliberate or accidental, that Scott Thompson had nothing to do with - Almost like a slipknot that the board of directors planted very early on in the CEO selection process that they could use to oust the CEO if they weren't happy with his performance after the first quarter.

It is funny how Dan Loeb, the CEO of Third Point, was the accuser and now has somehow "won" himself a chair on the board of directors through all of this.. Not to mention 2 others he proposed.

The thing that tells me it could have been deliberate is that Yahoo didn't want to listen to all of this at first - Or as the article states "Play ball". When it is possible that Yahoo staged this whole thing from the very beginning as a legal means of ousting the CEO in a last ditch effort to - as they may call it - "save the company". Only to later say they don't want to "play ball" as a means of gaining plausible deniability.

Much happened behind the scenes that we may never know about. Maybe we'll learn what really happened.. Do any of you think this is as suspicious as I? I would say follow the money but.. Then again Yahoo doesn't have any. The only vested interest in this whole thing is the party that won big in the settlement AND got a seat on the Board of Directors.

-ChriS

money.cnn.com
(visit the link for the full news article)

When it rains, it pours. Poor Scott Thompson has also just been diagnosed with thyroid cancer. Source here. Not at all surprising this has all come to pass, when you look at it from a metaphysical standpoint.

reply to post by BlasteR

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No wonder Yahoo! can't make any money, they aren't even smart enough to vet their CEO prospects. This shouldn't have even happened.

reply to post by CosmicEgg

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It's terrible he has that, but at least it's the most easily treatable cancer of all.

reply to post by BlasteR

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You can't get a 40k job without extensive background check nowadays. They could go as far as to give the candidate a rectal check (just to make sure there are no concealed weapons laying around in the anal canal that the crazy employee could use on a killing rampage once fired )
You'd think that a CEO, Chief Executive Officer of a multi-bilion dollar IT company would at least undergo a criminal and professional background check. That person would certainly not be a total newbie picked up from the street to head such a company so the person has to have street credit, here it's all about silicon valley recognition I guess.

reply to post by silent thunder

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It's the same old double standard, isn't it? If you are rich and act strangely, you are eccentric; but a poor man acting the same way is just crazy. Rich people embezzle, while poor ones steal.

Originally posted by UFCG2012AFHS
reply to post by BlasteR

---

You can't get a 40k job without extensive background check nowadays. They could go as far as to give the candidate a rectal check (just to make sure there are no concealed weapons laying around in the anal canal that the crazy employee could use on a killing rampage once fired )
You'd think that a CEO, Chief Executive Officer of a multi-bilion dollar IT company would at least undergo a criminal and professional background check. That person would certainly not be a total newbie picked up from the street to head such a company so the person has to have street credit, here it's all about silicon valley recognition I guess.

edit on 14-5-2012 by UFCG2012AFHS because: (no reason given)

That's kind of what I was thinking too. The whole thing is beyond belief. That is another one of the really suspicious aspects of this whole ordeal.. It's almost as if someone did an online biography, posted false information about the guy. Even if they might've told him about it, what is he gonna do? " You wanna be the CEO of Yahoo? sign here". Who's not gonna sign that contract?

Originally posted by antonia
reply to post by BlasteR

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No wonder Yahoo! can't make any money, they aren't even smart enough to vet their CEO prospects. This shouldn't have even happened.

The fact that it did either tells us that alot of people at Yahoo failed epically at their jobs or this whole thing was orchestrated as a failsafe so their biggest shareholder could oust the CEO if they weren't happy with his performance. That or the Yahoo Board of Directors is run by people who worked on Wall Street in 2008.

Originally posted by CosmicEgg
When it rains, it pours. Poor Scott Thompson has also just been diagnosed with thyroid cancer. Source here. Not at all surprising this has all come to pass, when you look at it from a metaphysical standpoint.

WOW! Thyroid Cancer.. Hopefully he pulls through OK...

You have to ask yourself: is all of this just coincidence? Unbelievable.

-ChriS

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