Yahoo confirms CEO is out after resume scandal

Shock over the news that Yahoo CEO Scott Thompson padded his resume with an embellished college degree quickly gave way to two questions: How the hell did this happen? And what should Yahoo, which went through three CEOs in three years, do about it?

by Dan Loeb:Third Point LLC, owners of 5.8% of Yahoo! (YHOO) shares, sent the following letter today to the Yahoo! Board of Directors:May 3, 2012Board of Directors Yahoo! Inc. 701 First Avenue Sunnyvale, CA 94089Dear Board of Directors:

Chief Executive Scott Thompson apparently misrepresented his college credentials, falsely saying he had a computer science degree, an error flagged by an activist shareholder.Yahoo Chief Executive Scott Thompson is expected to step down Sunday after dissident shareholders called attention to his apparent misrepresentation of his college credentials.

By Dana Blankenhorn: Yahoo (YHOO) bulls may have a reason for optimism. The fact that CEO Scott Thompson lied on his resume (he's an accountant, not a programmer) isn't that big a deal. But it's the last of a long string of mistakes by the Yahoo board, which faces a June proxy fight led by Third Point LLC head Daniel Loeb.

By Value in Stock Market:Yahoo's (YHOO) new CEO, Scott Thompson, is going to be gone after four months of tenure over his college degree scandal. It's a bit of shocking news for everybody after Yahoo fired its last CEO, Carol Bartz, after only two years.

By StockRiters:Marissa Mayer, former Google (GOOG) executive and present Yahoo (YHOO) CEO, has been able to turn Yahoo from a floundering behemoth to a company with lingering promise, in less than a year.