So Scott Thompson is out, adding to the growing list of CEOs who simply couldn’t hang on to their job at Yahoo. Not only did hedge fund Third Point get the ouster it wanted, it’s also getting three board seats. Adding to Thompson’s woes, the now former CEO revealed the awful news to the board that he has thyroid cancer, which is part of the reason he’s resigning. He had been in the job since January.
Ross Levinsohn (left), the company’s head of global media, is taking the CEO seat on an interim basis. Does anyone want this job?!
On the positive side, shares of Yahoo stock rose with the news that Thompson was leaving the company. On the negative side, this latest changing of the guard doesn’t change anything for the company just yet. It’s still behind the curve from a tech standpoint and its still got troubles with an unpopular patent infringement suit against Facebook.
It will take time to turn around business fortunes entirely, but the company needs to start by offering up stability.