Yahoo CEO Scott Thompson does not hold a degree in computer science in contrast to his past claims,it has emerged.
The embarrassing revelation surfaced after Daniel Loeb,founder of the fund Third Point and a major shareholder in Yahoo exposed the truth about Thompson.
He claimed that Thompson doesn’t have a bachelor’s degree in computer science from Stonehill College near Boston,as the company stated in regulatory documents filed last week.
Even Thompson’s official biography at his last job,with PayPal,made the same claim about his academic credentials.
He actually studied accounting and Stonehill did not even offer computer science degrees until four years after he graduated.
Loeb made the allegation in a letter on Thursday to Yahoo’s board of directors.
Although Yahoo Inc. confirmed the findings,the company attributed this misinformation to an ”inadvertent error.”
Loeb,who controls a 5.8 per cent stake in Yahoo,is leading a campaign to shake up the company’s board so he can help come up with a strategy to boost the company’s long-slumping stock price.
He alleged that the mix-up over Thompson”s educational background discredited the company as a whole.
”If misrepresentations were made,they would confirm yet again that Yahoo! is in dire need of a complete corporate governance overhaul,” the Daily Mail quoted Loeb,as saying.
He said that the situation ”reflects poorly on the character of the CEO who has been tasked with leading Yahoo! at this critical juncture.”
Loeb claimed to have made his discovery simply by searching Thompson”s name on Google.
However,Yahoo defended its CEO,who joined the firm in January. The firm said Scott Thompson was ”a highly qualified executive with a successful track record leading large consumer technology companies”.