Ex-Yahoo CEO?s Cancer Diagnosis Led To Quit Decision

Former Yahoo (Nasdaq: YHOO) CEO Scott Thompson quit in part because of a recent diagnosis of thyroid cancer, the Wall Street Journal reported.

The severity and outlook for treatment for Thompson, 54, aren't known. Thompson, formerly president of PayPal, a unit of eBay (Nasdaq: EBAY), the No. 1 online auction site, was recruited only in January to Yahoo.

The Journal story said Thompson only informed others at the Sunnyvale, Calif.-based search and media company last week, after it announced a probe into his credentials after Third Point Capital, a New York hedge fund with a 5.8 percent stake, questioned whether Yahoo had misled the U.S. Securities and Exchange Commission in regulatory filings preceding the annual meeting.

The story said Thompson decided to quit Friday and a severance package was agreed on Saturday. The company announced Thompson had quit on Sunday.

As of 12:15 EDT on Monday, Yahoo had not made any additional filings with the SEC concerning the resignation, the naming of Interim CEO Ross Levinsohn and other arrangements reached with Loeb concerning Yahoo's board of directors.

In her prior position as CEO of Autodesk (Nasdaq: ADSK), Carol Bartz announced she had been diagnosed with breast cancer in 1992. Bartz was elected Yahoo CEO in 2009 and fired last year, leading to Thompson's recruitment.

Other major technology notables who've reported cancer include Andrew S. Grove, retired CEO of Intel (Nasdaq: INTC), the No. 1 chipmaker; Steve Jobs, chairman of Apple (Nasdaq: AAPL), the world's most valuable technology company and Carleton S. (Carly) Fiorina, former CEO of Hewlett-Packard Co. (NYSE: HPQ).

Jobs died of pancreatic cancer last Oct. 5. Bartz, Grove and Fiorina have said they are cancer-free.

Meanwhile, Berkshire Hathaway (NYSE: BRK/A) CEO Warren E. Buffett said he has prostate cancer and plans to be treated for it next month.

Yahoo shares closed up 31 cents at $15.50, about 2 percent, in Monday trading.