Yahoo CEO may be fired after just 4 months
SAN FRANCISCO (KABC) -- After just four months on the job, it appears Yahoo's new CEO is getting ousted.
A major Yahoo shareholder revealed that Scott Thompson allowed an inaccuracy about his academic credentials to go uncorrected for years.
Thompson's biography, including the one filed with the Securities and Exchange Commission, showed he had two bachelor's degrees - one for accounting, the other for computer science. In reality, he only has a degree in accounting.
The major shareholder who discovered the inaccuracy says he wants Thompson out by 9 a.m. PT Monday or the company will face possible legal action. But after the deadline passed, Thompson was still listed as CEO on Yahoo.com.
Yahoo said "the board is reviewing this matter and, upon completion of its review, will make an appropriate disclosure to shareholders."
The company has been losing ground to rivals Google Inc. and Facebook Inc. ever since, causing its revenue to steadily fall and leaving its stock price below $20 since September 2008, a few months after Microsoft's final offer.
The Associated Press contributed to this report.
- NKorea deports captive American war veteran 16 min ago
- Covina home-invasion robbery: girl, dad shot
- Nelson Mandela's legacy honored around world
- New cold front to bring chance of rain, snow
- 'Valley Bandit' wanted for 8 bank robberies
- Family settles over Chino school gun accident
- Suspected heist reported, 12 tons of pot found
- New Mexico cop fired after minivan shooting
- abcnews: Bill Clinton reveals insights from Mandela
- 6 detained in theft of radioactive material
- Robo-seal pups help patients fight dementia 37 min ago
- Long Beach motorcycle show offers demo rides 31 min ago
- Billy Joel to perform at the Hollywood Bowl
- OTRC: 'Scandal' season 3 will have 18 episodes
- Man arrested in Paul Walker wreckage theft
27 min ago