Yahoo! CEO Controversy – Get Over it Already
Top hedge fund manager Dan Loeb has again reiterated to CNBC in exclusive comments that he does not intend to relent in his fight to have an interim CEO appointed at Yahoo!.
CEO Scott Thompson has come under fire after Loeb discovered that Thompson does not have a computer science degree from Stonehill College as he claimed on his bio and also in regulatory filings.
“It’s a matter of accountability and a lack of values,” Loeb tells us.
Mr. Thompson graduated with a degree in accounting only.
Although Piper Jaffray analyst Gene Munster appreciates the seriousness of the issue – he thinks Loeb is missing the point. He says Thompson knows tech well and should be good for the company.
“I understand there are integrity issues here, but they just aren’t serious enough (to replace Thompson),” says Munster.
“Does it really matter what somebody does in college? What matters is that Thompson can help fix Yahoo!”
Munster also says, considering Thompson’s recent accomplishments – his resume doesn’t need a lot of pumping up.
Thompson was formerly president of PayPal.
Munster goes on to say, “to change leadership at this point is not the right thing to do. The right choice is to keep him.”
Munster rates Yahoo! a buy.
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Trader disclosure: On May 10, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Anthony Scaramucci is long GS; Anthony Scaramucci is long DELL; Anthony Scaramucci is long PEP; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long MSFT
For Gene Munster
Piper Jaffray makes a market in YHOO
For Joel Greenblatt
Joel Greenblatt is long HP
Joel Greenblatt is long MSFT
Joel Greenblatt is long AAPL
CNBC.com with wires.