How is it possible that Yahoo hired its CEO Scott Thompson, missing the fact that he misrepresented his credentials – to wit, he claimed to have a degree in computer science when he did not?
How is it possible that one of the nation’s leading top executive search firms did not uncover this fact during its due diligence on behalf of Yahoo?
The lesson is pretty clear — companies should be thorough in vetting candidates, especially their C-suite executives. And executives should be prepared to substantiate every entry in their résumé and employment application. These are basic threshold issues. But, yet this type of slippage appears front and center on the first page of today’s New York Times Business Section.
Certainly understandable why a 5% shareholder would sue to remove Thompson and seek greater board representation.