Someone had to take a fall in the scandal over Yahoo CEO Scott Thompson's faked company bio, and the first to go is Patti Hart, the Yahoo director who led the search that got Thompson hired in the first place. Hart's already got a job as CEO of International Game Technology, so it's not like she's going to be unemployed. She's just resigning from Yahoo's board because of her "clearly botched vetting of [Thompson's] academic record," AllthingsD reports. "Apparently, said sources, her own board asking her to remove herself from the Yahoo mess and focus on the company she actually runs."
But Thompson is saying he isn't going anywhere. On Monday he apologized for the "distraction" surrounding a computer science degree on his company bio that he never received. But he didn't apologize for the inaccuracy, ATD notes, and he didn't make any noise about leaving. "In his memo, Thompson sounded like a man determined to stick around so he can carry out a turnaround plan that so far has focused on cutting costs," the Associated Press reported.
Shedding a board member is a start for the company, but shareholder Daniel Loeb, who manages the fund Third Point LLC, which first pointed out the discrepancy in Thompson's bio, probably won't be satisfied with Hart's resignation as the whole of Yahoo's response. Third Point had set a noon Monday deadline for Yahoo to fire Thompson, AP reports, and is now looking into the background of six of Yahoo's directors. Hart's departure may be just the beginning.
This article is from the archive of our partner The Wire.