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Yahoo CEO Scott Thompson has Stepped Down – Corporate Governance Prevails

The controversy over exaggerated computer science collage degree on CEO Scott Thompson’s biography was initially brushed off by Yahoo as an ‘inadvertent error’.

It appears investors and directors thought otherwise and Thompson checked out at Yahoo last weekend. The departure is a victory for hedge fund manager Daniel Loeb of Third Point LLC, which is one of Yahoo’s largest outside shareholders and brought the discrepancy in Thompson’s educational background to light. It is also a victory for corporate governance.

Source: Press Comments

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