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Yahoo faces another reputation management crisis

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The latest corporate reputation management crisis to hit the news this week is former Yahoo CEO Scott Thompson allegedly falsifying his resume.

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Yahoo faces another reputation management crisis

  1. 1. Reputation Management Reputation Rhino LLC 711 3rd Avenue, 12th Floor New York, NY 10017 p: 888.975.3331 e: info@reputationrhino.com Welcome to Yahoo Faces Another Reputation Management CrisisThe latest corporate reputation management crisis to hit the news this week is former YahooCEO Scott Thompson allegedly falsifiying his resume. Thompson, who’s been Yahoo’s latest in arevolving door of CEOs (four in the last five years), held the position for a mere four months.The scandal came to light by disenchanted shareholder Daniel Loeb, who is interested in helpingshape Yahoo’s turnaround. The inaccurate information in Thompson’s resume has apparentlybeen circulating for years and focuses on a degree he claims to have earned from StonehillCollege.
  2. 2. Reputation Management Reputation Rhino LLC 711 3rd Avenue, 12th Floor New York, NY 10017 p: 888.975.3331 e: info@reputationrhino.com Welcome to Yahoo Faces Another Reputation Management CrisisThompson did attend the school, earning a degree in accounting only, not a computer sciencedegree, as he has claimed in the past. The inaccuracy was included in Thompson’s Yahoo bio, hisprevious bio as PayPal’s CEO, and in the latest Yahoo Securities and Exchange Commission filing.Clearly, reputation management should be a priority for all parties involved: Thompson as anaccomplished CEO, and Yahoo, a company struggling in the shadow of Google and Facebook hassuffered another loss of confidence following the abrupt resignation. Thompson already took afew missteps in the scandal, when he initially claimed it was an unfortunate oversight. Hechanged his tune as the news snowballed, blaming headhunting company Heidrick & Struggles,which denies any involvement in the resume inaccuracy.Under Thompson’s leadership, Yahoo faced scrutiny even before the resume inaccuracy of itsCEO. Thompson recently laid off 14 percent of Yahoo’s workforce, had been planning to close orsell 50 of Yahoo’s services, and is leading a lawsuit against Facebook for stealing some of Yahoo’stechnology.
  3. 3. Reputation Management Reputation Rhino LLC 711 3rd Avenue, 12th Floor New York, NY 10017 p: 888.975.3331 e: info@reputationrhino.com Welcome to Yahoo Faces Another Reputation Management CrisisScott Thompson’s decision to step down as CEO effective immediately is a step in the rightdirection for Yahoo shareholders, however unless the Board can convince shareholders that theyhave an operational strategy that can turn the beleaguered tech giant around, the fallout willcontinue for the foreseeable future. Thank You

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