Warren Buffett not buying Yahoo's word on CEO resume error
The legendary investor waxes skeptical about Yahoo's official position in the "inadvertent error" in the collegiate record of Scott Thompson.
The "Wizard of Omaha" isn't buying the official explanation Yahoo has offered about CEO Scott Thompson and the misrepresentation of his educational background on his resume.
Last week it was discovered that Thompson did not possess the degree in "computer science" that he had claimed. Yahoo said the error had been "inadvertent."
The disclosure stepped up the pressure from activist investor group Third Point to fire Thompson as it wages a proxy battle to gain seats on Yahoo's board. And on Monday, legendary investor and Berkshire Hathaway CEO Warren Buffett expressed sharp skepticism about Yahoo's explanation in a television interview with cable channel CNBC.
It doesn't sound like an inadvertent error. If I thought as a director, if I thought that an officer had consistently misstated some fact to me, I think I'd probably do something about it. ... We had something like that one time. If you can't trust the people you're working with, you've got a problem.