Among the highest priorities is closing a deal to sell some of Yahoo's stake in the Alibaba Group of China back to that company, in a deal that could reap billions of dollars.
Yahoo’s embattled chief executive, Scott Thompson, will leave his post after a controversy over his embellished academic credentials. Yahoo also reached an agreement with Third Point’s Daniel S. Loeb to end the hedge fund manager’s proxy fight.
Yahoo's embattled chief executive, Scott Thompson, told the company's senior management on Thursday that he never submitted a résumé or falsified his academic credentials, a person briefed on the matter said.
Yahoo's latest efforts to contain the controversy surrounding the embellished credentials of its chief executive do not seem to impress Daniel S. Loeb.
Patti S. Hart, the board member who led the search for Yahoo’s chief executive, Scott Thompson, will not seek re-election, and the company says it will investigate how the erroneous credentials were overlooked.
Patti S. Hart, the Yahoo director who headed the board search committee that picked Scott Thompson as the company’s chief executive, will not stand for re-election.
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