Six weeks in as chief executive officer of Dollar Thrifty Automotive Group Inc., Scott Thompson was facing a roomful of bankers who had loaned the rental-car company $2.5 billion and were having second thoughts.
Yahoo! Inc. Chief Executive Officer Scott Thompson, hired from EBay Inc. in January to turn around the struggling Web portal, is stepping down after his academic credentials were misrepresented, according to a person with knowledge of the matter.
Yahoo! Inc. said Chief Executive Officer Scott Thompson stepped down after failing to correct errors in his credentials and the company is revamping its board, handing a victory to activist investor Daniel Loeb, who pushed for the overhaul and said the Web portal is mismanaged.
Yahoo! Inc. rose the most in almost four months after reporting first-quarter sales that topped estimates, fueling optimism that a turnaround effort by Chief Executive Officer Scott Thompson may take hold.
John Donahoe, chief executive officer of EBay Inc., the world’s largest Internet marketplace, said the filings made when it hired Scott Thompson as president of its PayPal payment business were accurate. The academic credentials of Thompson, now CEO of Yahoo! Inc., were questioned by Yahoo investor Third Point LLC, prompting the board of the biggest U.S. Web portal to review the matter.