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Posted in 2012 contender | 0 comments

Yahoo: Scott Thompson (CEO)

Why this is a big quit:

Thompson’s resignation hits Yahoo, the Internet pioneer and once the world’s most visited website, as another in a series of leader setbacks (Ed Note: On the “Biggest Quits List” or a Contender more often than any other company). Under increasingly intense competition with Google and Facebook, Yahoo has been dogged by management turmoil that it had hoped to end by hiring Thompson. Apparently Yahoo’s wish did not come true and Thompson left Yahoo more fragile than before.

Why it’s not as big as our Top 10:

Thompson was only CEO for five months, so he did not make a significant operational and financial impact. The reason of resignation, resume fabrication of education details, was as much Thompson’s embarrassment as it was Yahoo’s. The overlooked background check did fuel larger concerns over the company’s ability to re-establish itself in the marketplace and raise its stock valuation from highs at double current levels.