Following an AllThingsD report, Yahoo has confirmed that CEO Scott Thompson will leave the company, simply saying that "Mr. Levinsohn replaces Scott Thompson, former Chief Executive Officer, who has left the Company." Yahoo doesn't offer any more information on whether Thompson stepped down or was fired, but more details have surfaced since the initial confirmation.
AllThingsD reported today that Thompson was let go with "cause" — specifically that he falsely claimed to have a computer science degree from Stonehill College. This would mean that he's not eligible for the large severance package he'd otherwise have gotten. Additionally, The Wall Street Journal is reporting that Thompson is indeed battling an illness, as AllThingsD hinted at in its initial report — before resigning, Thompson told the Yahoo board and several colleagues that he's battling thyroid cancer. While his dismissal appears to be mostly related to his falsified resume, the WSJ indicates that his illness was a contributing factor to his removal.
Ross Levinsohn, the company's global media head is set to take up executive duties on an interim basis. Yahoo also confirmed that it's rearranging its board of directors — Daniel S. Loeb, Harry J. Wilson, and Michael J. Wolf will take up newly-freed spots, effective May 16th. Fred Amoroso was also named as the new chairman of the board.
Regardless of the reasoning behind his dismissal, it means more rough times for Yahoo, which has seen what's becoming a long list of CEOs come through its doors — Scott Thompson was appointed just this past January. Yahoo isn't having the easiest year: the struggling company experienced a massive restructuring in April that saw 2,000 employees laid off and 50 services discontinued along with the loss of the company's chief product officer, Blake Irving, despite a 28 percent profit increase in Q1.
Nathan Ingraham contributed to this report
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