Yahoo chief executive Scott Thompson steps down.

The Yahoo CEO, Scott Thompson has resigned and it is being reported that he told the board of the internet giant that he has thyroid cancer.

Thompson, the former head of PayPal, has been under pressure to step down for the past week after it emerged he falsified his CV when applying for the position of CEO.

Thompson claimed he had a degree in computer science but this turned out to be incorrect and he only holds a degree in accounting.

The Wall Street Journal is reporting however that the reason for Thompson quitting may be related to thyroid cancer, a fact he brought to the board's attention before quitting.

Yahoo has appointed Ross Levinsohn, head of global media, as an interim CEO, the company's fifth in as many years.

Yahoo has been struggling in recent years to compete with the likes of Facebook and Google.

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