The company will apparently say he is leaving for “personal reasons.”

But the evolving crisis, centered on his botched resume and how he handled the thorny issue, is clearly the key reason for the abrupt departure.

Thompson’s likely replacement on an interim basis will be Yahoo’s global media head Ross Levinsohn, who most recently also ran its Americas unit, including its advertising sales.

In addition to the management upheaval, Yahoo’s board is closing in on a settlement with the man who discovered Thompson’s misstep, activist shareholder Daniel Loeb of Third Point, sources said.

The situation could change, since Yahoo’s full board still has to meet Sunday morning to officially approve the sweeping changes at the long-troubled company.

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