The internet giant, Yahoo on Sunday replaces Scott Thompson as CEO in an effort to clean up a mess created by an exaggeration about his education which has destroyed his credibility even though he was meant to turn around the long-troubled internet company.
The company replaces him with Ross Levinsohn, who oversees Yahoo’s content and advertising services, is taking over as interim CEO.
He becomes the fourth person to run Yahoo in eight months.
The company employed Thompson, the former head of eBay’s PayPal, in January to orchestrate a reversal. Although Yahoo is one of the internet’s most-visited websites, the company has struggled to grow in face of competition from the likes of Google and Facebook. The company’s difficulties have irked investors.
Thompson took the helm as Yahoo’s fourth chief executive in less than five years.
Thompson’s abrupt exit after just four months on the job came as part of the latest shake-up on Yahoo’s board of directors, which has been in a state of flux for several months.
He was sacked based on fake resume and he claimed he’d never submit any to the company.
He was relieved his appoint as Yahoo CEO on Sunday.