Yahoo has formed a committee to conduct “a thorough review” to figure out how it managed to hire a CEO with inaccurate – at best – qualifications. In particular it will look at Scott Thompson’s academic credentials, “as well as the facts and circumstances related to the review and disclosure of those credentials,” the company said.
Independent director Alfred Amoroso will head the committee, which is comprised of him along with John Hayes and Thomas McInerney, independent directors who joined the board in April.
This special committee will have its own independent counsel, too: Terry Bird. His law firm Bird, Marella, Boxer, Wolpert, Nessim, Drooks and Licenberg “engages solely in the practice of complex civil and white collar criminal litigation,” according to its website.
Meanwhile, Thompson sent a memo of vague apology to Yahoo employees. “I want you to know how deeply I regret how this issue has affected the company and all of you,” he wrote in part. “We have all been working very hard to move the company forward and this has had the opposite effect. For that, I take full responsibility, and I want to apologize to you.”
Yahoo – press statement
Bird, Marella, Boxer, Wolpert, Nessim, Drooks and Licenberg – official site
Associated Press – Yahoo CEO apologizes for bogus college degree
Photo by Flickr user jencu, used under Creative Commons license