Thursday, December 3

Yahoo CEO steps down


WASHINGTON: Yahoo chief executive officer (CEO) Scott Thompson has resigned and the company has named Ross Levinsohn as interim CEO, Yahoo said Sunday.

The company said its board of directors also appointed Fred Amoroso as chairman. Both appointments were effective immediately, Xinhua reported.

“Mr. Levinsohn replaces Scott Thompson, former chief executive officer, who has left the company,” Yahoo said in a statement.

Thompson, former president of eBay’s subsidiary PayPal, was appointed as CEO in January 2012.

According to Xinhua, Thompson was under fire after Yahoo shareholder Dan Loeb alleged that the CEO does not have a computer science degree from Stonehill College as claimed for the CEO position, as well as in regulatory filings to the US Securities and Exchange Commission.