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14May/120

Revolving door: Yahoo ushers out another CEO

Posted by vica

 

FILE - In this Oct. 17, 2011 file photo, Ross Levinsohn, Yahoo Executive Vice President of Americas, speaks at the Web. 2.0 Summit in San Francisco. Scott Thompson, named CEO of Yahoo in January, reportedly will step down Sunday, May 13, 2012 amid controversy over mentions on his resume and in regulatory filings of a computer science degree he never received. Yahoo says it is appointing Levinsohn as interim CEO and Fred Amoroso as chairman of its board, effective immediately. (AP Photo/Paul Sakuma, File)

Yahoo still has credibility issues, even after casting aside CEO Scott Thompson because his official biography included a college degree that he never received.

The troubled Internet company's next challenge will be convincing its restless shareholders and demoralized employees that the turnaround work started during Thompson's tumultuous four-month stint as CEO won't be wasted.

It won't be an easy task, given that Yahoo Inc. has now gone through four full-time CEOs in a five-year stretch marked by broken promises of better times ahead. Instead, Yahoo's revenue and stock price have sagged during a time when rivals such as Google Inc. and Facebook Inc. as advertisers spend more money online. Read more...