San Francisco: Yahoo has confirmed a shareholder's allegation that its chief executive officer (CEO) Scott Thompson did not have a computer science degree as claimed, saying that it is "an inadvertent error".
"Scott Thompson's degree at Stonehill College was in bachelor science in accounting. There was an inadvertent error that stated Thompson also holds a degree in computer science," said Yahoo in a statement to technology news site AllThingsD.
"This, in no way, alters that fact that Thompson is a highly qualified executive with a successful track record leading large consumer technology companies," said Yahoo.
Thompson has been under fire after Yahoo shareholder Dan Loeb alleged that Thompson does not have a computer science degree from Stonehill College as claimed in bios from his job at eBay to the current Yahoo position, as well as in regulatory filings to the US Securities and Exchange Commission, reported Xinhua.
According to Loeb, he was informed by Stonehill College that Thompson only graduated with a degree in accounting and the school did not begin awarding computer science degrees until 1983, four years after Thompson graduated.
"If Thompson embellished his academic credentials we think that it 1) undermines his credibility as a technology expert and 2) reflects poorly on the character of the CEO who has been tasked with leading Yahoo at this critical juncture. Now more than ever Yahoo investors need a trustworthy CEO," said Loeb in a letter to Yahoo's board of directors.
Loeb, managing partner of hedge fund Third Point which has a 5.8 per cent stake in Yahoo, is currently in a proxy fight with Yahoo board, trying to fire some directors and install new ones.
Loeb wants to be a new board member, but Yahoo Wednesday said in a letter to shareholders that Loeb will not be given a seat.
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