Resumegate Continues At Yahoo: Thompson Out As CEO, Levinsohn In

Google85 writes with this news from All Things D: "Yahoo's embattled CEO Scott Thompson is set to step down from his job at the Silicon Valley Internet giant, in what will be a dramatic end to a controversy over a fake computer science degree that he had on his bio, according to multiple sources close to the situation. The company will apparently say he is leaving for 'personal reasons.' Thompson's likely replacement on an interim basis will be Yahoo's global media head, Ross Levinsohn, who most recently also ran its Americas unit, including its advertising sales."

Re:Who's Running Corporations?

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Indeed, even if it went down exactly as Thompson claims, the most charitable conclusion I can come up with is that he is not competent for the job.

Yahoo! filed, over his signature, SEC documents that included the phantom degree. It was his job to make sure that those filings were correct -- either because he personally knew they were or because he selected people to check them who were trusted. In this case, he had personal knowledge of the facts and, at best, didn't even read what he signed. I actually give a CEO a break if there is some arcane thing in such filings that is wrong if they have no personal direct knowledge of the area (for example swapping the currency exchange rates for Feb and March when they are within 0.01% of each other) and the people he delegated the task of checking to screwed up -- but that's not the case here.

I can't believe the guy lasted more than 24 hours after the revelation -- that says something very bad about Yahoo!