Published On: Sun, May 13th, 2012

Yahoo! Chief To Step Down Amid Scandal

Yahoo’s chief executive Scott Thompson will step down from the Internet giant based in Sunnyvale, Calif., according to an exclusive story published by The Wall Street Journal’s tech blog All Things D.

All Things D cited multiple unnamed sources familiar with the situation in reporting that the Internet giant will announce Thompson is stepping down for personal reasons.

Thompson has recently come under fire after allegations that his academic record was misstated on his resume and in regulatory filings of a computer science degree he never received.

Originally it appeared that Thompson would try to stay on as CEO regardless of being caught with the infraction. Daniel Loeb of Third Point discovered the misstatement and lobbied hard to have Thompson removed from his post. Thompson is likely to be succeeded by Yahoo’s global media head Ross Levinsohn, who most recently also ran its Americas unit, including its advertising sales.

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