Her permanent replacement, Scott Thompson, was canned May 13 after it was discovered his official biography included bogus information about his academic credentials. Thompson's ouster was orchestrated by Daniel Loeb of hedge fund Third Point, who also engineered the naming of three new directors. Among other things, Loeb has called on Yahoo to grow its media business and produce more original content. Levinsohn, the former head of Yahoo's Americas region, took a number of widely praised steps after replacing Thompson. He settled a controversial patent lawsuit Thompson had filed against Facebook and figured out how to sell off part of Yahoo's valuable stake in embittered former Chinese partner Alibaba for $7.1 billion. Levinsohn appeared to endorse Loeb's view for Yahoo's future, telling investors last year that the company planned to roll out more online content and woo advertising dollars from major brands.