Hedge fund manager Daniel Loeb is furious that Yahoo CEO Scott Thompson, former president of PayPal, doesn’t have a bachelor’s degree in computer science from Stonehill College near Boston as he claimed. Apparently Thompson has a degree in accounting.
He dashed off a letter to Yahoo’s board of directors claiming that Thompson must have told porkies to get the job.
After all, turning around PayPal is not going to get you a job – while a BSc in computer science is just about everything a board wants in a CEO.
Yahoo confirmed Loeb’s findings, but the company attributed the misinformation to an “inadvertent error”.
Thompson received a bachelor of science degree in business administration with a major in accounting from Stonehill college. the spokesperson said in a statement to Reuters. There was an inadvertent error that stated Thompson also holds a degree in computer science, the spokesperson added.
Loeb wants to shake up Yahoo’s board so he can help come up with a strategy to boost the company’s long-slumping stock price. The board has to listen to him a little bit because he controls a 5.8 percent stake in Yahoo through a company called Third Point.