DHAKA: Yahoo CEO Scott Thompson is sorry for allowing an inaccuracy about his education to appear in his official biography, but not remorseful enough to heed calls for him to resign.
Thompson apologised for the uproar caused by the misinformation in a memo sent on Monday to the troubled internet company’s employees.
Yahoo provided a copy of the memo to media.
The memo didn’t offer any explanation why Thompson’s bio has periodically listed a bachelor’s degree in computer science that he never received.
The exaggeration was most recently repeated in documents that Yahoo filed with the Securities and Exchange Commission.
‘We have all been working very hard to move the company forward, and this has had the opposite effect’, Thompson wrote.
‘For that, I take full responsibility, and I want to apologise to you.’
He assured Yahoo employees that he remains focused on taking the steps that he believes are needed to revive Yahoo’s revenue growth and boost its long-sagging stock, even with his own job imperilled.
Thompson’s note of contrition came on the same day that an activist hedge fund that owns a 5.8 per cent stake in Yahoo escalated its effort to oust the CEO for unethical conduct.
The fund, Third Point, issued a legal demand to review internal Yahoo documents that may explain how much research the company’s board did about Thompson’s background before hiring him in January.
Third Point contends it’s entitled to the records under the laws of Delaware, where Yahoo is incorporated.
Yahoo didn’t respond to requests for comments about Third Point’s demand.
BDST: 1340 HRS, MAY 9, 2012
Edited by Robab Rosan, Cultural Affairs Editor
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