The good news for Yahoo Chief Executive Scott Thompson is that no one is accusing him of doctoring his birth certificate, so if he wants to make a run at a bigger presidency, that's one less hurdle to jump over. He is, however, accused of padding his resume, which has prompted an internal investigation into his hiring, as well as a lot of time and energy spent reviewing his qualifications, and for that he has taken full responsibility and apologized.
As it's written up in Reuters, all this came to light last week when Daneil Loeb, CEO of hedge fund Third Point, which owns a 5.8 percent stake in Yahoo, wrote a letter accusing Thompson of prettying up his resume a bit too much and demanded that records related to his hiring be turned over.
In the fallout that ensued, Thompson issued a memo to employees expressing deep regret over how the issue is affecting the company.
"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 stated, according to Reuters.
Thompson also said that he hopes for a prompt conclusion and that he would "respect" the board's plans to review the matter. What the board will be looking into is Thompson's education record and related discrepancies pointed out by Third Point.
Yahoo hired Thompson in January of this year. Prior to his role with Yahoo, Thompson served as Paypal's president.