It was less than one month ago on April 17 that Silverback Marketing reported good news for Yahoo!, a positive first quarter earning report. This inspired the first Yahoo!’s Yodel Anecdotal blog post from CEO Scott Thompson, a gentleman that had just taken over the reins as Yahoo CEO three months earlier. Thirteen days prior to the good news Yahoo announced that it would be laying off 2000 employees during the year, an announcement that caused Thompson to state that “today’s actions are an important next step toward a bold, new Yahoo! – smaller, nimbler, more profitable and better equipped to innovate as fast as our customers and our industry require.”
Scott Thompson appeared to be an individual that was inspired and aggressively taking action in an effort to return Yahoo to its glory days before the Google era took over the online landscape. Unfortunately that momentum was dramatically halted recenty and caused a major shake-up in the Yahoo corporate ladder.
Sunday, May 13, 2012, Yahoo officially announced that effective immediately Ross Levinsohn has replaced Scott Thompson as interim Chief Executive Officer. This is a stunning announcement, particularly since the company has shown improvement. Therefore, there has to be a very important reason why Thompson would have stepped down from his position as CEO just four months after taking over.
Yahoo cited “personal reasons” for the departure. However, just over a week ago a company by the name of Third Point, a Yahoo investor, reported that Scott Thompson had “embellished his academic credentials.” Apparently the resume that Thompson originally submitted to Yahoo claimed he had received two degrees from Stonehill College back in 1979, accounting and computer science. Third Point discovered that Thompson had only received the accounting degree and CEO Daniel Loeb made the formal announcement. Scott Thompson apologized to Yahoo but it appears that was not enough.
The Thompson era was brief. Time will tell how this situation will affect Yahoo’s effort to once again be a vital player in the search engine game.