The truffle between the Third Point Loeb and Yahoo over the company’s CEO computer science degree – Scott Thompson yesterday said sorry to his staff. Yes, he is sorry, deeply regretted – but does a Sorry is good, when it somehow affects the company image too – as how come a company like Yahoo does something like this – had not corrected the things before properly – strange.
Going in some recap, the controversy started when Loeb (Yahoo investor) stated that Yahoo’s CEO owes Accounting degree not the Computer Science degree. The Third Point Daniel Loeb demanded that the internet company will fire Scott Thompson by Monday. Loeb even quickly lobbed in another letter, making an explicit legal threat to get the resume information.
Here’s the internal memo that went out to all Yahoo employees (via AllThingsD):
I wanted to share some additional thoughts with you related to the disclosure of my academic credentials.
As I told you on Friday, the board is reviewing the issue and I will provide whatever they need from me. In the meantime, I want you to know how deeply I regret how this issue has affected the company and all of you. 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.
In my note Friday, I said I would be focused on continuing to do what needs to get done. That’s because I feel I owe it to all of you to make sure that nothing disrupts the progress we’ve made in just a few short months due to all of your focus, commitment, and hard work. As you’ve heard me say many times, we have a tremendous business with incredible assets, and we can win by putting our customers first. The progress I shared with you in the first quarter should make clear that we intend to move fast and deliver on the potential of the business for our customers, shareholders, and all of you.
I know the board plans to conduct the review thoroughly and independently, and I respect that process. I am hopeful that this matter will be concluded promptly. But, in the meantime, we have a lot of work to do. We need to continue to act as one team to fulfill the potential of this great company and keep moving forward. You have my word that all my energy and attention will be on that mission.