Click here to show or hide the menubar.

Home >  Archive >  2012 >  May >  5

Previous / Next

It matters that Yahoo's CEO lied
By Dave Winer on Saturday, May 05, 2012 at 5:44 PM.
Yahoo's CEO lied about having a Computer Science degree.  permalink
That's a fact. It can be spun in a lot of different ways, but that doesn't matter. permalink
In CEO-level business, that kind of lie is material. permalink
I've done two major corporate transactions, and contemplated a number of others that made it past letter of intent and into due diligence. In this mode, the lawyers emhphasize over and over that you want to disclose every liability, no matter how small, up front, before the deal is signed. Any liability that is discovered later will cost you. If the liability is big enough, you could have to return all the money, and your liability isn't even limited to that. I had one bizarre case where I was being sued by my own lawyer, and advised by another to settle or risk losing everything.  permalink
When you're working at the level of CEO of a public company, as the Yahoo CEO is, by definition, at all times, you want to preserve your right to litigate. And given Yahoo's litigious nature under this CEO, you gotta figure that'll bring out the litigators from all over.  permalink
While I've only had an occasional glimpse of the lawyer hell that corporate CEOs live in, it's hard to imagine going into that kind of constant battle with this kind of exposure. How can you sue someone for breach of contract when you lied to get your job. It's a pretty awkward situation. Never mind what it says to people who apply for jobs at Yahoo. Don't worry about lying on your resume. We don't take that stuff seriously here at Yahoo. permalink
And just imagine the shareholder suits if they don't fire the guy.  permalink
They're going to have to do it. Yeah, it's definitely a bad day for Yahoo, and they don't have too many good ones. But it's really unthinkable that he stays. permalink
This site contributes to the community river.

© Copyright 1997-2012 Dave Winer. Last update: Sunday, May 06, 2012 at 1:01 PM Eastern. Last build: 5/31/2012; 9:36:28 AM. "It's even worse than it appears."

RSS feed for Scripting News

Previous / Next