Morningstar, Inc. All Rights Reserved. His degree is actually in accounting only. Business Insider: Many people are described Scott Thompson as “disgraced” former CEO of Yahoo. Thompson was reportedly close to a partial sale of the Alibaba holding shortly before his plans were derailed by the allegations about his qualification. After we made the announcement [ShopRunner] merchants reached out to me and said “this is amazing, this is great for ShopRunner. On May 13, Yahoo’s board announced that it had parted ways with CEO Scott Thompson.In an announcement, Thompson said he was leaving Yahoo due to his health, but everyone knew the real reason. A WarnerMedia Company. Do Not Sell, First Published: May 13, 2012: 4:49 PM ET, board shakeup that wiped out most of Yahoo's previous directors, Millennials squeezed out of buying a home, Big Data knows you're sick, tired and depressed, Your car is a giant computer - and it can be hacked. Business Insider: You must have gotten a pretty good discount on an executive who was, only months before, talented enough to get a job running a huge company like Yahoo. Loeb said: "We are confident this board will benefit from shareholder representation, and we are committed to working with new leadership to unlock Yahoo's significant potential and value.". In February, Third Point filed paperwork proposing four new Yahoo board members, including Loeb himself. View Scott Thompson’s profile on LinkedIn, the world's largest professional community. Yahoo's share of overall US online ad revenues, which reached 15.7% in 2009, declined to just 9.5% last year, according to eMarketer. When he was running PayPal, I talked to him about ShopRunner and I wanted to get him to run the business. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Did Apple save Dr. Dre and Jimmy Iovine just in time? See the complete profile on LinkedIn and discover Scott’s connections and jobs at similar companies. Levinsohn had earlier been rumored as a successor to Carol Bartz, who was fired from Yahoo by phone in September. She replaced Yahoo's co-founder Jerry Yang, who had returned to the company as chief executive in 2007 and in 2008 rejected a $44.6bn offer from Microsoft. Levinsohn is a former News Corp executive who presided over the Murdoch-controlled media firm's ultimately disastrous purchase of Myspace in 2005. So, when I look at what we are looking to do there couldn’t be someone better suited to run this business than Scott. Sun 13 May 2012 23.58 BST In an internal Yahoo e-mail obtained by CNN's Dan Simon, interim CEO Levinsohn acknowledged the "very bumpy road we've traveled. References to a "computer science" degree also appeared in his online biographical information on PayPal's website when Thompson was president of the eBay (EBAY, Fortune 500) subsidiary. I moved to the US from China — here are the biggest cultural differences I've noticed between the 2 countries, Bath & Body Works is now a standalone company — we visited a store and saw why it's been L Brands' secret weapon, CBA and NAB pass on RBA interest rate cut in full, but ANZ and Westpac defy Treasurer Josh Frydenberg's orders, How to watch Netflix on your TV in 5 different ways, The incredible story of Ferrari's 72-year journey from an upstart racing team to a $27 billion luxury brand. Third Point, a hedge fund that owns 5.8% of the firm's shares, had wanted to install its own choice of directors at Yahoo and had pushed for Amoroso to join the board of directors. Those errant three words could mean big trouble for Thompson and Yahoo. © 2020 He said he had a computer science degree that he did not have. Morningstar: © 2018 Third Point owns about 5.8% of Yahoo, and is the largest outside shareholder. ", But, he said, Sunday's announcements "lay to rest the unfortunate and serious distractions surrounding our senior leadership and the composition of our Board going forward. The saga took an even more dramatic twist Monday morning, when the Wall Street Journal reported that Thompson has been diagnosed with thyroid cancer. I can’t wait to work with Scott again. All Rights Reserved.Terms Last month, Thompson announced a round of layoffs at Yahoo, totalling 2,000 jobs, about 14% of the total. But successive managements have failed to reach any agreement on a sale. "The board is pleased to announce these changes and the settlement with Third Point, and is confident that they will serve the best interests of our shareholders," Amoroso said in a statement on Sunday night. CEOs are required to personally certify that their company's SEC filings are accurate. The first question we asked was about Thompson. First published on Sun 13 May 2012 23.58 BST. He spent a lot of time with these big merchants at PayPal. But Third Point scored a coup by finding and exposing Thompson's padded resume. Thompson's degree information is listed accurately in eBay's regulatory filings and in the bio featured in filings for F5 (FFIV), where he serves as a director. I loved working with him at PayPal.”, Financial investors reached out us to and said “my God is there opportunities to invest in ShopRunner.”. under which this service is provided to you. There’s Fanatic, which sells licensed sports merchandise and will do about $850 million in revenues this year. 70% Of College Student Said They Would!!!! All rights reserved. A special committee was established earlier this month to review the situation. All rights reserved. When everything happened at Yahoo I told him he should come run ShopRunner. But less than six months later it was revealed that Thompson's resumé claimed he had obtained a bachelor's degree in computer science and accounting from Stonehill College in Easton, Massachusetts. People have said that to me before but truth be told, we were very aggressive in what we did to recruit Scott. Scott has 1 job listed on their profile. Human Resource (HR) Managers Say That 53% Of Resumes And Job Applications Contain Falsification And 21% Of Resume Falsification State A Fraudulent Degree. We knew he was the right guy to run ShopRunner long term. He allowed this fact to remain on his official bio for years – through a tenure at PayPal and into his time with Yahoo. © 2020 Guardian News & Media Limited or its affiliated companies. Scott Thompson, now the former CEO of Yahoo. Yahoo's chief executive Scott Thompson quit on Sunday as the struggling web giant sought to defuse a row over an allegedly fake computer science degree on … But today, Thompson already has a job. The firm has agreed to halt its fight. We didn’t look to take advantage of the previous situation. In About-Face, UK Will Not Allow Huawei To Be Involved In Any Part Of... Universal Orlando Parks Will Reopen June 5 Despite Risk Of... Pro-Privacy Lawmakers Secure A Vote To Protect Browsing Data From... Jurassic World: Dominion Is Definitely Not The Planned End Of The... White Twitch Talk Show Host Finally Drops 'Rajj Patel' Moniker, Everything We Know About The PlayStation 5. Factset: FactSet Research Systems Inc. 2018. New board members: Dan Loeb, the CEO of Third Point, has a long history of launching proxy fights -- and Yahoo was the latest company in his crosshairs. While the online advertising market is expected to grow 23.3% to $39.5bn this year, Yahoo's share of revenues will fall further to 7.4%, eMarketer estimates. in Accounting from Stonehill College," with no reference to a computer science degree. ShopRunner is part of a collection of e-commerce companies owned by a larger firm called Kynetic. LinkedIn is the world's largest business network, helping professionals like Scott Thompson discover inside connections to recommended job candidates, industry experts, and business partners. The college subsequently confirmed that he had achieved only the accounting degree. Loeb said in the statement Sunday that he, Wilson and Wolf are "committed to working with new leadership to unlock Yahoo's significant potential and value.". Yahoo confirmed Thompson "has left the company" in a statement posted late Sunday, after two news reports. I know him to be a person that has high integrity who I have tremendous respect for. Representatives from both Yahoo and Third Point declined to comment beyond the joint statement. The chairman position had been in play since a February board shakeup that wiped out most of Yahoo's previous directors. View the profiles of professionals named "Scott Thompson" on LinkedIn. We just spent a few minutes with the CEO of Kynetic, Michael Rubin. People really believe in Scott, so I didn’t really care what happened at Yahoo. His decision to step down from Yahoo was "in part influenced" by the recent diagnosis, the newspaper said. Yahoo's board had been due to meet on Sunday to discuss its findings and other changes. Tech blog AllThingsD was the first to report the news, and the New York Times followed up with its own article. The departure of Thompson and Bostock is a victory for Third Point. View Scott Thompson’s profile on LinkedIn, the world's largest professional community. On Sunday, Yahoo and Third Point released a joint statement explaining the terms. During the course of a proxy war with one of Yahoo’s biggest shareholders, it was revealed that Thompson had, at some point in his career, misled people about his educational background. Instead, Thompson took the CEO role in January. Scott has 3 jobs listed on their profile. Disclaimer. It was the sixth round of job cuts in the past four years for the beleaguered company. View Scott Thompson’s profile on LinkedIn, the world's largest professional community. Thompson has been under pressure since activist shareholder Daniel Loeb of the hedge fund Third Point claimed that Thompson had misrepresented his degree. Loeb and several other executives close to Third Point will now also join Yahoo's board. Question: Resume Regrets: The Case Of Scott Thompson, Yahoo’s CEO In 2012 Would You Lie On A Resume To Get A Job You Want?? Thompson's resume scandal ignited just over a week ago, when activist shareholder group Third Point alleged that Thompson lied about details of his college degree. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Yahoo media chief Ross Levinsohn will be named interim CEO, the company said. At first, Yahoo didn't want to play ball. Soon after, the director who led Yahoo's CEO search committee, Patti Hart, announced that she would step down at the end of her current term. [Potential ShopRunner partners told us] if you get Scott we want to join. On May 13, Yahoo’s board announced that it had parted ways with CEO Scott Thompson.In an announcement, Thompson said he was leaving Yahoo due to his health, but everyone knew the real reason. This is a guy who has got a cult-like following with in the retail/merchant network. Available for everyone, funded by readers. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 I knew him for a long time and he was the right person for the business. Why would you hire him?
Kazakh Vocabulary, Hydrous Clay, Wallow Fire, Arizona, Chateaubriant Racing, Way Of The Peaceful Warrior Summary, Pumice For Plants Near Me, Black Lightning Arrowverse, Mask Of The Unforgiven Wowhead Classic, Saito Definition, Los Angeles County Cities, Postman Pat: The Movie Dvd, Moving To Philippines From Uk, Brian Hoyer Height, Jaa Sanam Mujhko Hai Lyrics English Translation, The Room (2019 Ending Pregnant), Is The Holy War Real, Damsel In A Dress, Nikki Ferrell Husband, Juliana Harkavy Arrow, Belarus Tourism Official Website, Feminist Movement 1960s, Harry Styles And Camille Rowe Wedding, Just For Now Lyrics, Remembrance Day Quotes And Sayings, Cufant Location, Primark Sustainability Report 2019, Eyes Wide Open (2009 Watch Online), The Dinner Game Streaming, Grandma Got Run Over By A Reindeer Odd1sout, Kebab Near Me, Uniqlo Causeway Bay, Olivia Song Age,