The heat is on Yahoo CEO and Stonehill College graduate Scott Thompson, who is facing intense scrutiny over inaccuracies on his resume about the degree he earned there.
In the latest fallout from a scandal sparked by activist investor Dan Loeb of Third Point LLC, Patti Hart, the Yahoo director who headed the search that led to Thompson’s hiring, reportedly will not stand for re-election to the board of directors.
And yesterday, the board announced that it has formed a special committee to review Thompson’s academic credentials — a “pathetic attempt on Yahoo’s part to put a good face on a very embarrassing situation,” said Steven Fink, CEO of Lexicon Communications, the nation’s oldest crisis-management firm.
“When was the last time you heard of a special committee being formed where some heads didn’t roll?” Fink told the Herald. “In my opinion, the handwriting’s on the wall: He’s on his way out. And if he is, I would say do it sooner rather than later. For the board to be diverted from their main mission is a distraction they don’t need.”
Yahoo did not return calls yesterday, but Thompson, a Taunton native, reportedly issued an apology to the staff, which he plans to reduce by 2,000 in a cost-cutting measure.
Thompson’s resume listed that he had a computer science degree from Stonehill College, but a spokesman for the school yesterday said he graduated in 1979 with a bachelor’s in business administration and accounting. The error apparently never was caught during Thompson’s stints at Visa and Ebay prior to landing the top job at Yahoo.
“What he did is not legally criminal, but it’s morally criminal because it’s stealing,” said Al Firato, president of HireSafe background screening. “You’re not providing what they’re paying you for.”