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Yahoo Director Hart Won't Seek Re-Election: Report

Yahoo Inc director Patti Hart will not seek re-election to Yahoo's board, according to a source familiar with the matter, as the Internet company's board moved forward with an investigation of its new chief executive's educational background.

Yahoo's board said on Tuesday that is has appointed a special committee and hired a law firm to review CEO Scott Thompson's educational credentials as well as the "facts and circumstances related to the review and disclosure of those credentials in connection with Thompson's appointment as CEO."The committee, and the news that Hart will leave the board, mark the most significant developments since a controversy erupted about Thompson's background last week.On Thursday, activist hedge fund Third Point, which is waging a proxy battle against Yahoo, revealed that Thompson did not have a college degree in computer science as was stated in his official company biography and in Yahoo regulatory filings with the U.S. Securities and Exchange Commission.Yah...

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