Sunday, May 13, 2012

Yahoo CEO steps down

THOMPSON TO STEP DOWN AS YAHOO CEOAdvertisementYahoo's CEO Scott Thompson will step down, Kara Swisher of All Things D reports.Swisher says Ross Levinsohn will take over as interim CEO. Levinsohn is the head of Yahoo's media brands.The news comes more than a week after it was discovered Thompson's resume listed a computer science degree, which he never earned.Thompson will likely cite "personal reasons" when he officially announces the move.Swisher also reports Yahoo's board will reach a settlement with Dan Loeb, the shareholder who discovered Thompson's fake computer science degree.Fred Amoroso, a new Yahoo director, will be named chairman of Yahoo's board. The five directors on Yahoo's board now will step down immediately, Swisher reports.