Yahoo chief breaks company rules by sitting on two other boards
Scott Thompson is already under pressure in your resume falsely claiming to have a computer science degree
Yahoo CEO Scott Thompsonbroke the rules on company-specific registration number of its directors may sit on a director of two public companies in other words, the Guardian introduced.
The revelation will add to pressure on Thompson, who was forced to apologize on Monday after it emerged he had falsely claimed in his CV to get a degree in computer science when he applied for the position at Yahoo, who took office in January.
The Guardian also found that Thompson did not misrepresent his education in the other two companies. He joined one of them, Splunk, in October 2011 when he was president of PayPal, and other networks, F5, in January 2008. Both the list of those it as having a Bachelor of Science in Accounting from Stonehill College -. Unlike the instruction in his home that Yahoo also had a university degree in computer science
that counterfeiting forced an apology from Thompson on Monday. "The board [of Yahoo] is examining the issue and give you everything you need me," he wrote to the staff of Yahoo. "Meanwhile, I want you to know how much I regret the how this issue has affected society and all of you. "He added:" We all worked very hard to grow the business, which had the opposite effect, I take full responsibility and I 'm sorry. ".
Yahoo, one of the biggest websites, with about 700 million visitors each month, he said he would issue an announcement on Monday. However, although the board met in the day, the deadline passed without comment.
Thompson tries to turn around Yahoo, which has seen revenues and profits slide gradually over the last five years against increased competition from Facebook, Twitter and Google for advertising revenue. Having joined in January, was intended to chart a new direction for the company by focusing on improving its attractiveness and relevance. Yahoo has had three CEO Jerry Yang - Carol Bartz and Thompson - since 2009, when a takeover bid from Microsoft failed amid the credit crisis. The company had been trying to unload its stake in Alibaba, the largest platform in China's online shopping business-to-business.
- residency But Thompson has plunged the company into a row with activist investors, including hedge fund Third Point, which holds 5.8% stake in Yahoo and misrepresentation said "undermines its credibility as an expert in technology and reflects poorly on the character of the CEO who was charged with Yahoo in mind at this critical time." The third point is agitated to install your own choice of directors with more experience in advertising and the media. These criticisms are likely to intensify in the discovery of several directors of Thompson. Yahoo Management Guide in the composition of the entire United in a section called Additional boards of public companies "no CEO should serve more than two public company boards, including the Board of company (but not include boards of entities affiliated with the company). "Splunk and F5 or affiliated with Yahoo. Both are listed on the stock markets of the United States, Splunk was published in mid-April. The company says in its presentation of the S-1 that Thompson had served on its board of Directors since October. He received no remuneration in 2011 for his position on the map, but receive 150,000 shares. These are currently traded at about $ 32, which would be worth about $ 4, 8 million.
CV Thompson
periodically emerged with two degrees before joining Yahoo. It appears with a degree of computer on a website to promote his appearance on the technology Web 2.0 conference in 2010 while leading the PayPal payment service from eBay. The computer science degree has also appeared in the biography of Thompson as part of his appointment in 2008 of a new company in Silicon Valley, Zuora. However, eBay Thompson appears that accounting career in filings with the SEC, while working on the PayPal website.
The problems were compounded by Yahoo after it emerged this weekend that Patti Hart, who chairs the council committee would have chosen to search Thompson, she only has a degree in administration business - instead of a degree in marketing and economics they claimed.
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