Bringing The World Home To You

© 2023 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton 94.1 Lumberton 99.9 Southern Pines
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Yahoo CEO Out After Revelations Of Flawed Resume

STEVE INSKEEP, HOST:

NPR's business news starts with a Mother's Day shakeup.

(SOUNDBITE OF MUSIC)

INSKEEP: Yahoo says its CEO, Scott Thompson, is out, after a shareholder revealed an in accuracy on his resume. Mr. Thompson had claimed that he held two college degrees. In fact, he only had one. Thompson's resignation is a victory for an activist hedge fund that has been pressing for a shakeup in how Yahoo is run.

The troubled tech firm, you may recall, has seen its stock price cut in half in the past four years and it's in the midst of laying off a couple thousand workers.

The Third Point hedge fund, which holds a minority stake in Yahoo, publicized the resume inaccuracy last week. Now, it wants to see a new CEO put in place and an overhaul of the company's Board of Directors. Transcript provided by NPR, Copyright NPR.