Activist Hedge Fund Wants Yahoo CEO to Leave By Monday

By Tonya Garcia Comment

After first accusing Yahoo CEO Scott Thompson of lying about his educational record, the activist hedge fund investor Third Point is now demanding that the CEO step down by Monday.

Thompson’s claim was that he held a bachelor’s degree in both accounting and computer science from Stonehill College. Actually, he only has the accounting degree. A Yahoo spokesperson called it an “inadvertent error,” but Third Point, which has gone after the Yahoo board in the past for its poor performance, is having none of it. They want Thompson to resign as well as another board member, Patti Hart, who Third Point also accused of having discrepancies in her educational record.

AllThingsD has called Thompson out, saying the “error” goes back years, when he was CTO at PayPal. Business Insider is calling Yahoo’s response “outrageous and insufficient.”

So Yahoo’s latest CEO could be brought down by a resumé scandal. That position should just remain vacant forever.