Stonehill Degree Error Snarls Yahoo CEO In 'ResumeGate'
For nearly a week, a growing controversy over embellished academic credentials has snarled Yahoo and its CEO, Scott Thompson.
The academic record in question? It's from Stonehill College, in Easton.
Here's a recap of what's transpired: On Thursday, escalating its attempt to shake up Yahoo's board, the hedge fund Third Point alleged that Thompson had falsified his resume, according to DealBook. Third Point said Thompson's resume included a bachelor's degree from Stonehill in accounting and computer science, when the CEO only received a degree in accounting. According to Third Point, Stonehill said it did not award degrees in computer science when Thompson attended, and only had one such course available then.
Third Point's allegations were soon proven true.
Since — in what Dealbreaker called "ResumeGate" — Yahoo has apologized for the "inadvertent error," admitted that the director in charge of hiring Thompson also had errors on her academic record, and formed a committee to investigate Thompson's hiring.
Third Point's founder, Daniel Loeb, on Wednesday again called for Thompson to be replaced.
Third Point owns 5.8 percent of Yahoo's shares, and has been waging a proxy battle for Yahoo's stewardship for months.
As of this writing, Yahoo's stock is down nearly 1 percent since its Thursday open.
This program aired on May 9, 2012. The audio for this program is not available.