Yahoo!'s (YHOO) CEO Scott Thompson Set to Step Down

May 13, 2012 2:43 PM EDT
Yahoo!'s (Nasdaq: YHOO) embattled CEO Scott Thompson will step down following the controversy surrounding him after it was discovered that he fabricated having a computer science degree, AllThingsD reported.

In addition to Thompson stepping down, the company is close to a settlement with activist investor Dan Loeb of Third Point Capital. Loeb discovered and made public Thompson's inaccurate eduction credentials.

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Daniel Loeb, Third Point LLC

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