Scott Thompson out as Yahoo CEO

Yahoo's last CEO Scott Thompson, who has only been at the company for four months, has resigned after he was accused of including a computer science degree that he didn't have in his biography. Thompson stepped down on Sunday, 10 days after the allegations were made.

Thompson was hired in early January and was the third CEO to be tapped in just a little over three years, and this latest incident is sure to continue the ongoing turmoil that Yahoo, a pioneer in the Web portal space, has endured.

Ross Levinsohn, Yahoo's head of global media, was named interim CEO, and director Fred Amoroso will become chairman, the Sunnyvale, the company said in a statement yesterday. Amoroso replaces Roy Bostock, the non- executive chairman, who is exiting the board immediately. Yahoo agreed to add Loeb to its board along with two other directors nominated by his fund, Third Point LLC, to end a proxy fight.

"The company is starting from scratch yet again," Ben Schachter, an analyst at Macquarie Capital, said in an interview. "Scott put them in a very difficult position, and something had to happen."

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