Yahoo boss Scott Thompson apologises for his CV scandal – well, not quite...
Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.
Wednesday 09 May 2012
Yahoo's chief executive, Scott Thompson, told staff he "deeply regrets" the scandal over his academic credentials – but his apology extended only to the distraction caused by the affair, not to claims that he fabricated a computer science degree to pad his résumé.
His memo to employees came as the internet company signalled it would proceed with an investigation at its own pace, ignoring an ultimatum by a rebel shareholder to Mr Thompson.
Daniel Loeb, whose hedge fun owns 5.8 per cent of Yahoo, discovered last week that Mr Thompson could not have graduated with the degrees in computer science and accounting from the Massachusetts university he claimed, because it did not start offering computer science until four years after he left.
The impossible degree has appeared sporadically on Mr Thompson's résumé as he built his career as a technology executive, most recently at eBay, from where Yahoo poached him back in January.
It was reported last night that Patti Hart, the director who recommended hiring Mr Thompson, will quit.
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