Scott Thompson won’t get severance compensation after leaving as Yahoo’s CEO in a scandal about his resume, according to a filing. The filing also said Yahoo agreed to appoint activist investor Daniel S. Loeb, Michael J. Wolf and Harry J. Wilson to the board, effective Wednesday.
The outgoing chief executive of Yahoo told the board of directors and colleagues that he had been diagnosed with thyroid cancer days before quitting the post, the Wall Street Journal reported on Monday. Scott Thompson disclosed his illness late last week before handing in his resignation as evidence appeared to emerge that contradicted his claim that he wasn’t responsible for an error in his resume regarding his academic record, sources told the newspaper.
Yahoo Chairman Roy Bostock and three longtime board members are leaving the troubled Internet company.
The tech giant Yahoo has begun a hiring freeze and is mulling over layoffs days after its former CEO and co-founder Jerry Yang resigned from the company, AllThingsD reported on Thursday citing sources close to the situation.
Yahoo co-founder and former CEO Jerry Yang resigned from the struggling Internet company on Tuesday.