[ By Larry Goldfarb ] Yahoo Inc. is coming under increasing fire for hiring Scott Thompson as its CEO, following the revelation that his resume was inaccurate.  Thompson, the successful CIO and President of PayPal was brought in to run Yahoo in January.  Daniel Loeb, the activist investor and founder of Third Point LLC, a New York based hedge fund who owns 5.8% of Yahoo, its largest shareholder, recently uncovered the inaccuracy and is putting pressure on the board to fire Thompson.  Thompson listed on his resume a degree in computer science when in fact he had one in accounting.  Moreover, Stonehill College, Thompson’s Alma Mater did not offer the degree in computer science at his time of graduation, 1979. The matter was further clouded by Yahoo Director Patti Hart, who led the search committee that hired Thompson.  It turns out Ms. Hart lied on her resume - Loeb found that error, as well.  Ms. Hart, who said she wouldn't seek reelection, represented that she had earned degrees in marketing and economics from Illinois State University - when, in fact, she had a degree in business administration. Falling Against Heightened Competition, and Against Itself. Yahoo’s business model has been negatively impacted by heightened competition from Microsoft, Google and others.  Yahoo has been hurt by a series of its own missteps. Meanwhile, as Thompson actively tries to restructure the company - through lay-offs, negotiated sales of subsidiaries and assets - Mr. Loeb has been locked for months in a proxy fight for control of Yahoo. Last month, he set up a Web site, ValueYahoo.com, in which he outlined his agenda for the company and put forth a slate of proposed directors. The circumstances around the revelations of Scott Thompson’s indiscretion are extremely questionable.  Daniel Loeb was looking for some way to gain control of the board and stumbled onto this problem.  But no matter the circumstances, the tone of the company is set from the top.  Corporate Governance, values, internal controls are gauged by the integrity of senior management.  Congress, in enacting Sarbanes Oxley, which requires the CEO to sign-off on the internal controls and the financials, made it clear that integrity on of the critical elements of a CEO’s responsibility. Given Thompson’s record, he is not the person you would want to sign off on these statements.  As a result, C-I believes Thompson has no alternative but to resign.