Yahoo’s CEO Resigns Amid Resume Fraud
Yahoo’s third CEO in three years Scott Thompson stepped down from his post 10 days after Daniel Loeb, head of Yahoo’s largest shareholder Third Point LLC, accused him of padding his resume with fake or exaggerated credentials, specifically a degree in computer science. Daniel Loeb now holds three board seats, greatly influencing the direction the struggling internet company may take in the future. While Yahoo declined to give a reason for Thompson’s departure, the recent buzz surrounding Thompson’s resume may have contributed to his exit. Thompson’s exit will be counted in addition to four other CEOs who left amid scandal through April of this year. Nine other CEOs were removed from their positions, generally due to strategic business decisions by the board or leadership styles that did not fit the company. Three more CEOs were ousted by the company due to internal investigations or financial inaccuracies and misconduct. The last instance of resume fraud tracked by Challenger occurred in March 2009, when Patrick Avery, former President and COO of chemical-miner Intrepid Potash Inc., claimed to have earned a bachelors degree from Colorado University and a masters from Loyola Marymount. Although he attended and took courses at both institutions, he never received the degrees. At the time, the company expected to use him as an operations consultant.
TOP RESUME, INTERVIEW FABRICATIONS
(in no particular order)
Education: Listing degree from a school never attended; inflating grade point average and graduate honors; citing degree from online, non-accredited “education” institution.
Job title: Making up a title or boosting actual title by one or more levels in hopes of obtaining better salary offers.
Compensation: Inflating current or previous salary and benefits to secure more money from prospective employer.
Reason for leaving: Saying it was a mass downsizing when the discharge was based on performance; asked to leave, but saying you quit; underplaying or completely hiding poor relationships with superiors.
Accomplishments: Overstating one’s contributions to a team project or company performance; claiming to have received special recognition; exaggerating level of participation in an important aspect of the business.