• by Mark Walsh  @markfwal, May 9, 2012

Daniel Loeb Wednesday renewed his demand for Yahoo to replace CEO Scott Thompson, dismissing his apology for a fudged resume as insufficient and calling the company’s response to the matter “farcical.”

Yahoo announced Tuesday it was creating a special board committee to investigate Thompson’s hiring and his academic credentials, which he was found to have padded in his bio. Yahoo also said Patti Hart, the independent director leading the search that led to Thompson’s hiring would not seek reelection to the board.

Loeb, who owns a 5.8% stake in Yahoo through is Third Point hedge fund, recommended Yahoo install CFO Tim Morse or Global Media Head Ross Levinsohn as interim CEO and place Third Point’s previously rejected slate of directors on the board.

“It seems farcical to us that the Board will most likely spend more time deliberating over whether Mr. Thompson should be fired than it did properly vetting whether he should have been hired,” wrote Loeb in his latest letter to the board. Read the full text here.