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Scott Thompson (businessman)

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Scott Thompson (businessman)
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factoids
| birth_place = Taunton, Massachusetts| death_date = | death_place = | other_names = | residence = | alma_mater = Stonehill College (degree in Accounting)| nationality = United States| occupation = Business executive| years_active = | employer = | title = | boards = Kabbage Inc, Vertica Systems Inc, Zuora Inc.| religion = | spouse = | children = }}Scott Thompson (born November 13, 1957) is an American businessman, and currently CEO of Tuition.io.WEB, Protalinski, Emil,weblink Former Yahoo Chief Scott Thompson Hired As New CEO of ShopRunner, Thenextweb.com, 2012-07-23, 2013-01-03, Previously, he was Chief Executive Officer of ShopRunner.

Early life and education

Thompson was born November 13, 1957, in Taunton, Massachusetts, and grew up in nearby Raynham. He was an accounting major from Stonehill College, a private Catholic school in Easton, Massachusetts.

Career

ShopRunner

Thompson joined the online-shopping service ShopRunner as CEO in July 2012NEWS, Efrati, Amir, Ousted Yahoo Chief Lands New CEO Role,weblink July 24, 2012, The Wall Street Journal, July 24, 2012, Bensinger, Greg, B3, and left in July 2016.weblink

Yahoo!

In early April 2012, Thompson announced and executed a plan to reduce Yahoo!'s 14,000 employees by 2,000, or 14% of the workforce.WEB, Carlson, Nicholas, Yahoo Fires Thousands,weblink Business Insider, May 14, 2012, April 4, 2012, Several executives left Yahoo! just before the layoffs began.WEB,weblink Yahoo Brainiac Drain Continues: Goodbye to Broder, Mao - Kara Swisher - News, AllThingsD, 2012-03-27, 2013-01-03, WEB,weblink Exclusive: Yahoo's Chief Product Officer Blake Irving Resigns - Kara Swisher - News, AllThingsD, 2012-04-05, 2013-01-03, On March 14, 2012, Yahoo! filed a patent lawsuit against Facebook over ten patents.WEB, Reuters,weblink Yahoo sues Facebook over 10 patents - Business News | IOL Business, IOL.co.za, 2012-03-14, 2013-01-03, yes,weblink" title="web.archive.org/web/20120519230400weblink">weblink May 19, 2012, WEB, Levine, Dan,weblink Yahoo sues Facebook for infringing 10 patents, ABS-CBN News, 2013-01-03, Facebook responded with a countersuit.NEWS,weblink London, The Daily Telegraph, Emma, Barnett, Facebook sues Yahoo, April 4, 2012, WEB,weblink Facebook Smacks Back at Yahoo With Patent Claims in Counter-Lawsuit - Kara Swisher - News, AllThingsD, 2012-04-03, 2013-01-03,

College degree controversy

{{undue weight|section|date=May 2012}}Yahoo! hired Thompson as CEO in January 2012.NEWS,weblink Biographical info on Yahoo CEO Scott Thompson, Bloomberg Businessweek, May 14, 2012, Associated Press, May 14, 2012, On May 3, 2012, activist investor Dan Loeb, CEO of Third Point LLC, sent a letter to Yahoo’s Board of Directors and made the contents of the letter public in a press release.WEB,weblink Third Point LLC Letter To Yahoo! Board Of Directors Regarding Discovery Of... - NEW YORK, May 3, 2012 /PRNewswire/, Prnewswire.com, 2013-01-03, The letter cites a Yahoo! SEC filing stating that Thompson "holds a Bachelor's degree in accounting and computer science" from Stonehill College and that Loeb had reason to believe that the degree was "in accounting only". Loeb questioned if Thompson had "embellished his academic credentials" and questioned if the Board had "failed to exercise appropriate diligence and oversight in one of its most fundamental tasks – identifying and hiring the Chief Executive Officer." The basics of hiring the chief executive officer were subsequently over looked.Yahoo!'s filings with the SEC stated that Thompson "holds a Bachelor’s degree in accounting and computer science from Stonehill College". However, the 2008–10 proxy statements of eBay, Thompson's former employer, only noted an accounting degree.NEWS,weblink Yahoo says CEO Scott Thompson does not have computer science degree, May 4, 2012, May 4, 2012, Mr. Thompson holds a B.S. degree in Accounting from Stonehill College, The Washington Post, Hayley, Tsukayama, Yahoo! initially acknowledged the misstatement as "an inadvertent error",NEWS,weblink Yahoo’s Response on CEO’s Computer Science ResumeGate: "Inadvertent Error", May 3, 2012, May 4, 2012, then subsequently began an investigation.NEWS, Efrati, Emir, Yahoo Probes CEO's Hiring, The Wall Street Journal, Lublin, Joann S., B2, Stonehill College responded to press inquiries by stating that Thompson was granted a B.S.B.A. degree in Accounting.On May 13, 2012, Yahoo! issued a press release stating that Thompson was no longer with the company, and would immediately be replaced on an interim basis by Ross Levinsohn, recently appointed head of Yahoo's new Media group.WEB,weblink Yahoo! Names Fred Amoroso Chairman and Appoints Ross Levinsohn Interim CEO (NASDAQ:YHOO), Investor.yahoo.net, 2013-09-21, yes,weblink" title="web.archive.org/web/20130925175715weblink">weblink 2013-09-25, WEB,weblink It's Official: Yahoo Reorgs Itself Just Like We Said (Memo Time!) - Kara Swisher - News, AllThingsD, 2012-04-10, 2013-01-03, NEWS,weblink Reuters, Alexei, Oreskovic, UPDATE 2-Yahoo CEO says he never provided a resume-source, May 11, 2012,

PayPal

Prior to Yahoo!, Thompson worked for eBay subsidiary PayPal as President and, before that, Senior Vice President and Chief Technology Officer, where he oversaw information technology, product development, and architecture.WEB, Scott Thompson: Executive Profile & Biography,weblink BusinessWeek, 12 July 2010,

Visa

Thompson has also worked as Executive Vice President of Technology Solutions for Inovant, a subsidiary of Visa Inc. that oversees the company's global technology. At Inovant, he was responsible for all development, support, and maintenance of Visa's global payment system. He was also Chief Information Officer at Barclays Global Investors, where he implemented a technology platform and global infrastructure, but was fired for alleged disagreements about strategy. In addition, he worked for Coopers & Lybrand, delivering information technology solutions to leading financial services clients such as Wells Fargo.

Awards

In 2011, Thompson received the Ernst & Young Entrepreneur of the Year Award for financial services for Northern California.WEB, 2011 Northern California region award recipients,weblink Ernst & Young, May 13, 2012,

Cancer diagnosis

In 2012, Thompson was diagnosed with thyroid cancer, which was said to be a reason for leaving Yahoo!.WEB, Seth Fiegerman,weblink Scott Thompson Diagnosed With Thyroid Cancer, Business Insider, 2012-05-14, 2013-09-21, NEWS,weblink Forbes, Erika, Morphy, Thompson's Cancer: A New Twist to the Yahoo Saga - Forbes, By July 2012, he was given a clean bill of health.

References

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