Forbes – Yahoo CEO Scott Thompson today stepped down, two weeks after activist hedge fund manager Dan Loeb ignited a controversy over Thompson’s embellished resume.
Thompson will be replaced in the interim by Ross Levinsohn, the company’s global head of media, Yahoo said today. Yahoo has also struck a deal to end Loeb’s proxy fight. It will name him, turnaround guru Harry Wilson and media executive Michael J. Wolf to the board this week. Macrovision CEO Fred Amoroso will become Yahoo’s board chairman. In return, Loeb, who controls 5.8% of the company through his hedge fund, Third Point, will withdraw his previous nominees.
