Yahoo has confirmed that its now former Chief Executive, Scott Thompson, has resigned from his leading role following accusations that he falsely added a science degree to his CV.
The mistake was discovered by the company's activist shareholder Daniel Loeb, who is reportedly set to become a company director.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The US firm, which is based in Californa, has replaced Thompson with its global media head Ross Levinsohn.
Yahoo has also appointed Fred Amoroso as its new Chairman, with other directors soon to be appointed as well.
In April the company unveiled plans to slash 2,000 jobs, equivalent to 14% of the workforce, one of Thompson's iniatives to reduce costs by as much at £233m each year.
NR
-
Two thirds of easy access savings accounts come with restrictions – can you access your savings in an emergency?Out of the top 30 easy access savings on the market, 22 come with some sort of restriction on how fast you can access your money, according to new research.
-
Most popular London boroughs: Full list of in-demand places to move toA deluge of people move to or within Britain’s capital each year – but which area is the most popular? We look at the most in-demand London boroughs in 2025.
