Yahoo CEO Scott Thompson to stand down after faking computer science degree

Yahoo Inc Chief Executive Scott Thompson is stepping down from his role at the Silicon Valley internet giant, citing a recently discovered illness as the main cause, less than six months after taking the role in January.

Yahoo Inc Chief Executive Scott Thompson is stepping down from his role at the Silicon Valley internet giant.
It is thought to be the final stage in a controversy over a fake computer science college degree on his biography, although the company if expected to claim he is leaving for 'personal reasons'.
Thompson will reportedly cite a recently discovered illness as the main cause for his departure, less than six months after he took the role in January.

Replacement: Scott Thompson (left) is stepping down and will be replaced by Ross Levinsohn (right)

Thompson's interim replacement, effective immediately, will be Yahoo's global media head Ross Levinsohn, a source told Reuters.
Prior to the posting he was president of PayPal, the Jose-based eBay subsidiary, taking over from Carol Bartz who was dismissed in September.
Yahoo has said that Thompson did not have a computer science degree, despite what was stated in his official company biography and in regulatory filings with the U.S. Securities and Exchange Commission.

Levinsohn most recently also ran its Americas unit, including its advertising sales.
The move is a victory for hedge fund manager Daniel Loeb of Third Point LLC, which is Yahoo's largest outside shareholder and brought the discrepancy in Thompson's educational background to light.
It was Loeb and Daniel Levinsohn, head of Third Point, which owns 5.8 per cent of the company, who discovered Thompson's misstep and told the world of his phoney degree claim.

The home page of Yahoo, which has been recently rocked by allegations that its CEO inflated his resume

Loeb has been waging a bitter proxy battle to install a slate of four directors on the Internet company's board, which he has accused of being dismissive of investors' input and in need of restructuring capabilities and media strategies.
According to the AllThingsD blog, which reported Thompson's departure earlier on Sunday, Yahoo's board is closing in on a settlement with Loeb that will give Third Point three board seats.
The blog said Yahoo's recently added director Fred Amoroso will be named chairman of the board.
Yahoo was not immediately available for comment.
Emails sent to Thompson's official Yahoo email address were already bouncing back on Sunday morning.
Yahoo is in the midst of trying to revive revenue growth and its popularity with consumers, facing fierce competition from Google, Facebook and other online companies.