Buffett Comments on Trust Issue in Yahoo CEO BioGate: “You’ve Got a Problem”
Activist shareholder Daniel Loeb of Third Point just got an unlikely and powerful ally in his proxy fight against Yahoo: Berkshire Hathaway’s famed Warren Buffett.
In a wide-ranging interview on CNBC this morning, when asked about the controversy, Buffett said about the Silicon Valley Internet giant’s excuse that the addition of a false computer science degree to Yahoo CEO Scott Thompson’s bio was an “inadvertent error”:
“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,” said the legendary investor, in part, who also noted he did not know all the facts.
Still, said Buffett: “If you can’t trust the people you’re working with, you’ve got a problem.”
Ziiiiing, because if the sage of Omaha thinks it’s bad, it has moved to worse.
And, indeed it has — earlier today, Loeb lobbed a legal demand for information about Thompson’s hiring and more.
Yahoo’s board is conducting an investigation into the matter, led by independent director Fred Amoroso.
- Yahoo’s Parting With Thompson Will Be for “Cause” (a.k.a. CSLie)
- Ross Levinsohn’s Yahoo Plan: Back to the Future
- Here’s New Yahoo CEO’s First Note to Troops! (The Leaking-Internal-Memos-to-ATD Policy Remains in Effect As Usual)
- Yahoo Officially Confirms ATD Report on CEO Changes and Proxy Settlement
- Meet the Man I Call “The Hair”: The Video Stylings of Yahoo’s Newest CEO Ross Levinsohn
- Will Thompson’s Ouster Mean a Yahoo-Facebook Patent Settlement Too?
- Exclusive: Yahoo’s Thompson Out; Levinsohn In; Board Settlement With Loeb Nears Completion
- Heidrick & Struggles Slaps Back at Thompson’s Yahoo in Blame Game Over ResuMess
- Is He In or Is He Out? Crunchtime for Scott Thompson at Yahoo.
- Not So Scott Free? Yahoo’s Other Big Shareholder — Cap Re — Leaning Toward Supporting Loeb Over Thompson ResuMess.
- Tech Nation’s Gunn Says She and Yahoo CEO Discussed Their CS Degrees Before 2009 Show (Video and Audio)
- Loeb Calls Again for Thompson Firing From Yahoo, as Former eBay Boss Supports Him
- Place Your Bets: Will Loeb Drop Another Bomb on Yahoo at Vegas Confab Later Today?
- Exclusive: Yahoo Director in Charge of Botched CEO Vetting to Step Down From Board
- CEO Says Sorry to Yahoos for Borked Bio “Distraction” — But Will Mea Culpa Work Without an Apology for Error? (Memo)
- Buffett Comments on Trust Issue in Yahoo CEO BioGate: “You’ve Got a Problem”
- Loeb Lobs Lawsuit, as Expected, at Yahoo’s Borked Bio Mess
- As Yahoo CEO Reaches Out to Top Staff, Board Meets to Weigh “Options” (I.E., Deciding Who Gets to Take the Borked Bio Blame)
- Yahoo Should Expect Incoming Lawsuit Lobbed by Loeb Tomorrow on CEO Hiring
- They Shoot Yahoo CEOs, Don’t They? But Not Without a Really Smoking Gun and a Much Stronger Board.
- Yahoo’s Thompson Asks Employees to “Stay Focused” — Except Not on Him
- In 2009 Interview, Yahoo CEO Does Not Deny He Has a CS Degree, and Calls Himself an “Engineer” (Audio)
- Yahoo’s Board Will “Review” Resume Discrepancy of CEO
- How Did a Phantom CS Degree Get on CEO’s Bio in SEC Filings? Yahoo’s Not Saying.
- Yahoo’s Response on CEO’s Computer Science ResumeGate: “Inadvertent Error”
- Dan Loeb Alleges “Discrepancies” on Yahoo CEO Scott Thompson’s Resume Related to Computer Science Degree