Yahoo’s chief executive Scott Thompson apologized to the company’s employees Monday, but did not say he has plans to step down.
Thompson has been under fire since an investor vying for control of the company, Daniel Loeb, sent a letter Thursday to Yahoo’s board about the executive’s academic record. Yahoo later confirmed that while Thompson had listed a degree in computer science in his biography, he had never been awarded that degree.
In a memo sent Monday to employees, a copy of which was obtained by the Associated Press, Thompson said that he takes “full responsibility, and I want to apologize” to the company’s employees.
The CEO said that he hopes the Yahoo board will wrap up its investigation into the matter quickly, and told workers that he will be focused on his work until that time.
“[We] have a lot of work to do. We need to continue to act as one team to fulfill the potential of this great company and keep moving forward,” he said.
The question is whether Thompson can build trust inside the company. He seemed to be gaining momentum after Yahoo reported solid first-quarter earnings and he outlined what he said would be a stronger path forward.
But following the dust-up over Thompson’s biography, Business Insider’s Nicholas Carlson has collected responses from Yahoo employees who say they are angry and frustrated with him — particularly as the workforce deals with the implementation of 2,000 announced layoffs.
A report from Reuters cites an unnamed “source with knowledge of the matter” who said that Yahoo’s board has met to discuss the situation. It must decide whether it is better to keep a chief executive with a serious image problem or to launch a search for another chief executive.
Loeb has also called for investigations into all Yahoo board members appointed after Thompson’s hiring in January.