Yahoo’s pretty much been in a downward spiral since its 90s heyday and the last six months have been especially troubling for the company. It reported a $5 billion loss in revenue for 2011 and two CEOs have left. Its latest, Scott Thompson, was appointed in January after serving as Paypal’s CTO. He reached out to Yahoo’s board, asked for the top job, and they gave it to him. Just like that.
Now, it turns out that the board never did a proper background check… on their CEO! Dan Loeb, Yahoo’s biggest shareholder, was denied a position on the board, so vengefully, he went digging for dirt on Thompson. A quick Google search revealed that Thompson only has an accounting degree from Stonehill College, not the Computer Science his resume boasts. Paypal missed the discrepancy, too.
In Silicon Valley, that’s like a rapper with no street cred. Not to mention, Thompson’s a liar.
[via Business Insider]