Yahoo Inc is investigating claims by one of its shareholders that its chief executive Scott Thompson “embellished his academic credentials” on his CV.
The board of directors will make an appropriate disclosure to shareholders after undertaking a review of the situation, according to a Yahoo spokesman.
The controversy arose after Dan Loeb, founder and chief executive of Third Point, a hedge fund that owns 5.81% of Yahoo’s shares, wrote a letter to Yahoo’s board raising discrepancies.
Thompson’s CV states that he holds a bachelor’s degree in accounting a computer science from Stonehill College, but – according to Loeb – his degree is only in accounting.
A Yahoo spokesperson said: “Scott Thompson received a bachelor of science degree in business administration with a major in accounting from Stonehill college. There was an inadvertent error that stated Mr. Thompson also holds a degree in computer science.”
Yahoo announced that Scott Thompson would assume the role of chief executive in January.
Last month, askGrapevine HR reported that Yahoo plans to cut 2,000 jobs – the equivalent of 14% of its global workforce – in an attempt to bring about “real change”.