Ex Yahoo CEO receives no severance

Yesterday we published a news story on Scott Thompson, who left Yahoo as CEO. Further news on the story today indicate that Thompson did not step down, but was in fact fired from his position on Sunday. It has been revealed that he falsely claimed he earned a computer science degree.

Thompson was earning a salary of $1 million a year. and Yahoo will not be paying him severance pay for the 5 months he was in charge of the company. Yahoo employ 12,000 people. He will however receive cash and stock to compensate him for money he gave up when he left eBay. He was in charge of the Paypal division. Those award are said to be worth $6.5 million according to the Wall Street Journal.

Yahoo have declined to make any comment on Thompson and the public issues surrounding his departure.

Ross Levinsohn has taken over as CEO on an interim basis, but he is apparently interested in the job, full time. Yahoo are facing tough times ahead, with competition from Google and Facebook hitting their core business hard. They have recently made 2,000 people redundant.

Kitguru says: It would appear that Thompson has ‘exaggerated' his resume/CV. Will another company want to hire him?

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