While this apology is a good first step, there are still some serious issues that remain unresolved.

1. Monica Cellio should not have had her moderator status removed without due process. I believe that she should have her moderator status reinstated wherever it was summarily removed, pending action to be initiated by SE by the appropriate channels to have it removed , or pending Monica's request that it be removed once more should she no longer desire to be a community moderator. Should neither party now desire that Monica's moderator status be removed, she should not have to apply to have it reinstated.

2. Monica was mentioned by her real name in a statement to the media made by a SE employee. As the nature of this statement was negative, there may be further-reaching consequences to Monica than her alleged infraction (whatever it was) likely warranted. Certainly, no-one has accused Monica of any wrongdoing other than a supposed breach of SE's code of conduct, so, since using her name in a negative fashion in a press release was unwarranted, Stack Exchange has a duty to issue a retraction and apology to Monica via the same media outlet through which they made their first, unwarranted press release.

3. I believe that this entire matter was caused by the hasty, ill-considered and unilateral actions of a single Stack Exchange employee, or at most a small number of employees. I would hope that the employee(s) will be disciplined appropriately, and if their employment with Stack Exchange continues, that they will not remain in a position in which they may repeat or compound their recent mistakes. I would also hope that whatever action Stack Exchange takes with respect to the employee(s), it will not be publicised... a mere "We have taken appropriate disciplinary action against the employee(s) responsible," from SE will be sufficient; there is no need for this shameful matter to receive any more of a public airing than necessary. However, the employee(s) responsible have caused a great breach of trust between SE and the community upon which it relies, and the continued involvement of the employee(s) in question with the community is unlikely to help to restore that trust.

While this apology is a good first step, there are still some serious issues that remain unresolved.

1. Monica Cellio should not have had her moderator status removed without due process. I believe that she should have her moderator status reinstated wherever it was summarily removed, pending action to be initiated by SE by the appropriate channels to have it removed , or pending Monica's request that it be removed once more should she no longer desire to be a community moderator. Should neither party now desire that Monica's moderator status be removed, she should not have to apply to have it reinstated.

2. Monica was mentioned by her real name in a statement to the media made by a SE employee. As the nature of this statement was negative, there may be further-reaching consequences to Monica than her alleged infraction (whatever it was) likely warranted. Certainly, no-one has accused Monica of any wrongdoing other than a supposed breach of SE's code of conduct, so, since using her name in a negative fashion in a press release was unwarranted, Stack Exchange has a duty to issue a retraction and apology to Monica via the same media outlet through which they made their first, unwarranted press release.

3. I believe that this entire matter was caused by the hasty, ill-considered and unilateral actions of a single Stack Exchange employee, or at most a small number of employees. I would hope that the employee(s) will be disciplined appropriately, and if their employment with Stack Exchange continues, that they will not remain in a position in which they may repeat or compound their recent mistakes. I would also hope that whatever action Stack Exchange takes with respect to the employee(s), it will not be publicised... a mere "We have taken appropriate disciplinary action against the employee(s) responsible," from SE will be sufficient; there is no need for this shameful matter to receive any more of a public airing than necessary. However, the employee(s) responsible have caused a great breach of trust between SE and the community upon which it relies, and the continued involvement of the employee(s) in question with the community is unlikely to help to restore that trust.

EDIT

4. The Stack Exchange platform needs to be modified so that it does not allow community-elected moderators to be removed from their post(s) unilaterally by any one person, even an employee of Stack Exchange. The only mechanism by which a moderator should be able to be removed is by the established process for removal of a moderator. Of course, a person with database access could override the user interface's restrictions, but in my experience as a software developer, no developer would have any legitimate reason to alter live data in such a manner without orders.