Photo: Yodel Anecdotal
Good morning! Here’s the news:
- Yahoo CEO Scott Thompson resigned from the company over the weekend following his resume scandal.
- Thompson reportedly told Yahoo’s board of directors that he was recently diagnosed with thyroid cancer, which contributed to his decision to step down.
- Meanwhile, AllThingsD reports that Yahoo will claim cause in Thompson’s departure – specifically that the inaccuracies on his resume violated the code of ethics clause he agreed to in his offer letter – which would allow the company to get out of paying a huge severance
- Ross Levinsohn, Yahoo’s global media head, has been appointed interim CEO, making him Yahoo’s sixth CEO in just five years.
- Business Insider’s Henry Blodget argues that these changes may actually be the best thing that has happened to Yahoo in years.
- In other non-Yahoo news, Bloomberg reports that demand for Facebook’s IPO has been weak.
- Facebook’s CEO Mark Zuckerberg has been hammered with questions about the company’s ability to make money on mobile.
- Reuters reports that the Federal Trade Commission has reached out to Google and Twitter as part of an investigation into Facebook’s $1 billion purchase of Instagram.
- Apple is rumoured to be acquiring German HDTV maker Loewe, though Loewe has since come out and said no deal is in the works.
- In case you’ve been wondering, here are the highest-paid software engineering jobs in tech.
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