Yahoo Inc Chief Executive Scott Thompson has stepped down
after a controversy over a fake computer science college degree on his
biography. Yahoo said in a statement that its global media head, Ross
Levinsohn, will be interim CEO, replacing Thompson who has left the company.
The company did not give a reason for his exit but said the
board had settled a proxy battle with Third Point and will nominate three of
its slate of four candidates to Yahoo’s board.
The departure is a victory for hedge fund
manager Daniel Loeb of Third Point LLC, which is one of Yahoo’s largest outside
shareholders and brought the discrepancy in Thompson’s educational background