The financial news networks are abuzz with the news that Scott Thompson, Yahoo’s CEO may have lied on his resume. The story goes (Source: Jay Yarow on Business Insider) that Scott Thompson overstated his credentials by saying he had a Computer Science degree. Apparently Mr. Thompson said that he double-majored in Accounting and Computer Science but only has an Accounting degree. Dan Loeb, a hedge fund manager and founder of Third Point LLC, discovered this discrepancy and wrote a letter to Yahoo’s Board of Directors thus blowing the whistle.
If this is true, this would result in a great deal of turmoil at Yahoo. Executive credentials are included in a wide variety of documents collected by the Securities and Exchange Commission (SEC) and could lead to legal issues. Plus, this would be just plain wrong. People look to their leaders for honesty and integrity. Being fast and loose with your credentials (something easily checked) also shows a great lack of judgment.
I only hope that this isn’t true. If it is true then we may see a new CEO in Yahoo’s future. The lesson here is to always be honest in your business dealings and you won’t have to worry about such matters and let down the people who have given you their trust.