Check out GameChanger CEO Larry Popelka’s new Businessweek article on the latest corporate scandal – Yahoo’s “Resume-gate”The boards at many public companies today are failing their shareholders by making weak decisions in order to minimize negative publicity or lawsuits instead of putting their energies toward driving real growth.
The latest case in point: Yahoo! (YHOO). The troubled company has stumbled along with a revolving door of poor CEO choices—founder Jerry Yang and Autodesk’s (ADSK) Carol Bartz—that have lacked a vision or a plan for turning it around.
In January the board hired former PayPal (EBAY) President Scott Thompson as its new CEO. In his first four months, Thompson made some bold moves, laying off 2,000 employees (14 percent of the company’s workforce) and announcing plans to sell off most of Yahoo’s Alibaba stake and about 50 other services…
Now the Yahoo board is considering firing Thompson—not because he is doing a bad job, but because of an inaccuracy on his résumé. It turns out Thompson’s undergraduate degree from tiny Stonehill College in Boston 30 years ago was in accounting. In Yahoo’s Securities and Exchange Commission filing, however, it was listed as a degree in computer science and accounting… Click here to read more.
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