Yahoo CEO Scott Thompson Reported Quitting

Yahoo Inc (YHOO.O) Chief Executive Scott Thompson is stepping down after a controversy over a fake computer science college degree on his biography, a source familiar with the situation said on Sunday.

Thompson's interim replacement, effective immediately, will be Yahoo's global media head Ross Levinsohn, Reuters reported.

Yahoo was not immediately available for comment

Yahoo has said that Thompson, the former president of eBay Inc (EBAY.O) division PayPal, did not have a computer science degree, despite what was stated in his official company biography and in regulatory filings with the U.S. Securities and Exchange Commission.

Yahoo is in the midst of trying to revive revenue growth and its popularity with consumers, facing fierce competition from Google, Facebook and other online companies.

The Wall Street Journal's technology blog AllThings D cited multiple unnamed sources close to the situation in reporting that the Internet giant will say Thompson is stepping down for personal reasons and will appoint another executive as interim CEO.

The board also will appoint three new members and select a new chairman on Sunday, the Journal reported.

The incoming board members reportedly to be selected Sunday are three of those nominated by Daniel Loeb, an activist shareholder and manager of hedge fund Third Point.

Loeb discovered the resume discrepancy and has demanded that Thompson be fired.