Newspaper article International Herald Tribune

Investor Says Yahoo Needs an Interim Chief Executive

Newspaper article International Herald Tribune

Investor Says Yahoo Needs an Interim Chief Executive

Article excerpt

The hedge fund manager Daniel S. Loeb continued to mock Yahoo, even after it formed a board committee to investigate how its chief, Scott Thompson, had been hired.

Daniel S. Loeb does not seem particularly moved by Yahoo's latest efforts to contain the controversy surrounding the embellished academic record of its chief executive.

Mr. Loeb, the founder of the hedge fund Third Point, continued to mock Yahoo, even after it formed a board committee to investigate how its chief, Scott Thompson, had been hired, despite errors in his resume.

In a letter to Yahoo's board Wednesday, the Mr. Loeb again called for Mr. Thompson to be fired. Mr. Loeb suggested that either the company's chief financial officer, Timothy R. Morse, or its global media head, Ross B. Levinsohn, should serve as chief executive on an interim basis.

Mr. Loeb also reiterated his call to pick up four seats on Yahoo's board.

Mr. Loeb derided an e-mail Mr. Thompson had sent to Yahoo's employees as "a classic 'I'm sorry you feel that way' nonapology. …

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