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July 20, 2012

Yahoo will pay new CEO Marissa Mayer handsomely for her services

  • $70 million the amount Yahoo CEO Marissa Mayer stands to make in the next five years alone
  • $300 million her estimated net worth, largely gained from being an early (but longtime) Google employee
  • $3M per year between annual salary and bonus — or $15 million in five years
  • $42M in stock options and other awards for the former Google employee
  • $14M in restricted options meant to make up for Google stock lost source

» Costly management changes: In roughly a year, Yahoo has had to make multiple transitions at the top — and each time, it has cost the company millions. When Carol Bartz left Yahoo, she received a $10 million severance package. When Scott Thompson was forced out, he didn’t get a severance, but he got to keep a $7 million financial package he received after he left Paypal. Not bad for less than six months of work.

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17:20 // 1 year ago
May 14, 2012

Roundup: Execs leaving their companies under not-so-great terms

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10:35 // 1 year ago
May 13, 2012
AllThingsD: Yahoo CEO out over resume controversy
That was fast. A little over a week after a controversy that an activist shareholder pushed forward gained traction, Yahoo CEO Scott Thompson, above, will step down over allegations that he lied on his resume, according to AllThingsD, though the company is likely to say that he’s stepping down for personal reasons. He’ll be replaced by Ross Levinsohn, who heads Yahoo’s global media empire. The change is a big victory for said activist trader, Daniel Loeb of Third Point, who will reportedly get three board seats out of a settlement over the issue. Thompson’s resume claimed he graduated with a computer science degree; in reality, he graduated with a degree in accounting. Thompson apologized for the oversight, but it appears too late for him. source
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AllThingsD: Yahoo CEO out over resume controversy

That was fast. A little over a week after a controversy that an activist shareholder pushed forward gained traction, Yahoo CEO Scott Thompson, above, will step down over allegations that he lied on his resume, according to AllThingsD, though the company is likely to say that he’s stepping down for personal reasons. He’ll be replaced by Ross Levinsohn, who heads Yahoo’s global media empire. The change is a big victory for said activist trader, Daniel Loeb of Third Point, who will reportedly get three board seats out of a settlement over the issue. Thompson’s resume claimed he graduated with a computer science degree; in reality, he graduated with a degree in accounting. Thompson apologized for the oversight, but it appears too late for him. source

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13:11 // 1 year ago
May 8, 2012
I want you to know how deeply I regret how this issue has affected the company and all of you. We have all been working very hard to move the company forward, and this has had the opposite effect. For that, I take full responsibility, and I want to apologize to you.
Yahoo CEO Scott Thompson • Issuing a formal apology to the employees of Yahoo, amid a scandal over the possible falsification of his academic history, as we mentioned last week. Thompson claimed to hold a degree in computer science which he doesn’t — a fact that Yahoo initially called an “inadvertent error.” Today, however, they’ve announced the formation of a three-member panel to investigate Thompson’s record. source (viafollow)
20:20 // 1 year ago
May 3, 2012

Did Yahoo’s newest CEO, Scott Thompson, lie on his resume?

  • success A few months back, Yahoo — which has had notoriously bad luck with chief executives, seemed to finally find a good one in Scott Thompson, who gave the company a relatively decent quarter.
  • problem However, there’s one nagging problem in this story — Thompson apparently had a major error on his resume, saying he graduated with a computer science degree. (He didn’t.)
  • response Thompson’s alma mater, Stone Hill College, listed him as an accounting major, leading to an apology from Yahoo, which says it was an “inadvertent error.” Was he poorly vetted? source

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21:33 // 1 year ago
April 4, 2012
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. We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities. Our goal is to get back to our core purpose – putting our users and advertisers first – and we are moving aggressively to achieve that goal. Unfortunately, reaching that goal requires the tough decision to eliminate positions. We deeply value our people and all they’ve contributed to Yahoo!.
Yahoo CEO Scott Thompson • In a statement regarding the thousands of layoffs it plans to enact. The company’s press release says that it will “radically simplify” how it build products.
10:25 // 2 years ago
January 4, 2012

Yahoo tabs PayPal president Scott Thompson as new CEO

Yahoo picks the new boss: Scott Thompson, the president of eBay’s PayPal division, has been picked by Yahoo as its new CEO, replacing CFO Tim Morse who filled that role in an interim capacity. This marks the fourth CEO Yahoo has turned to in under five years; the company, once a giant in the world of search engines, has understandably suffered with the seemingly unstoppable ascendancy of Google over the past decade. Thompson faces a tall task — he’s being looked to, as chairman Roy Bostock said, “reignite innovation and drive growth” — this for a company that’s had a ton of trouble with both. source

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20:05 // 2 years ago