Yahoo Inc.’s Chief Executive, Scott Thompson, apologized to employees on Monday after being accused of padding his resume. 

Thompson’s apology regarded the fallout that was a result of the disclosure about his academic credentials in an emailed memo to employees. 

The memo came out after Daniel Loeb, the chief executive of activist hedge fund Third Point LLC, which holds 5.8 per cent of Yahoo’s shares, demanded for all records related to Thompon’s hiring be turned over. 

Third Point, which last week revealed the discrepancies in Thompson’s education record, wants Yahoo to publicly reveal the process by which Thompson was hired, and to disclose minutes of any board meeting in which his candidacy was discussed.

Yesterday Yahoo’s board convened to discuss aspects of an internal review. 

“I want you to know how deeply I regret how this issue has affected the company and all of you,” Thompson wrote in his first extended memo to employees since the disclosures emerged on May 3. 

“We have all been working very hard to move the company forward and this has had the opposite effect. For that, I take full responsibility, and I want to apologize to you.”

Thompson said he would “respect” the board’s plans to conduct a thorough and independent review.

 They brought in Thompson, former president of eBay Inc subsidiary PayPal, as chief executive in January, five months after Carol Bartz was fired, in the wake of sliding revenues. 

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Nicole Siena is an intern for the  Toronto Standard. Follow her on Twitter at  @nicolesiena

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