Tech CEOs Who were Fired in 2011

By SiliconIndia   |   Friday, 30 December 2011, 07:58 Hrs
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Bangalore: CEO's, the highest ranking executives in the corporate business are the pillars for balancing the core requirements of a firm. The overall performance of a year rests on the shoulder of a CEO, who plays a prominent role in the political and economic upsurge of the whole business process of a company.

Any inefficient move of CEO's might make or jeopardize the growth of the company, while strong differences between board committee members and political turmoil might bring them to the danger line. While the company image dampens, companies sue executives who fail to perform their duties resulting in the sinking of the firms reputation corporate ranking.

The year 2011 has witnessed the era of short-term chief with a downbeat record of CEO's being fired for their depressing performance. This led to hurt the total turnover of top major companies in the business world. A sneak peek of the yearly performance of top-notch companies will provide a vision of how it has fared for niche CEO?s out of the business line.

Carol Bartz, CEO of Yahoo!

Yahoo, the American MNC Internet Corporation ousted Carol Bartz from her position as CEO, after being dishonorably fired over the phone. Out of her four-year contract with Yahoo, she served a cold tenure of significant two and half years led by financial crisis, i.e. 2009-2011, which was a not an impressive time for Yahoo! Yahoo ?s stock share earnings varied by a wide margin compared to Autodesk, Bartz, previous organization, as it went down leading to a significant fall in the share market. Bartz got downsized from her popularity, could not make a favorable move with only 33 percent of approval rating from her Yahoo employees.

Most of the Yahoo assets were dismantled and not utilized. Private firms who were the prime investors in Yahoo! such as Silver Lake Partners, Providence Equity Partners and others questioned on the declining shares of Yahoo's performance. Out of her four-year contract, Bartz performance in raising the company's revenue and share prices randomly went down. The American giant faced a tough time as yahoo's share in the search market and advertisement offers declined considerably. Several companys alliances during her tenure failed to merge due to public relation problems and internal discontentment.

CNET technology analyst Larry Magid indicated that Bartz has failed to boost up the company's business in major areas such as social networking and search engine optimization. "Facebook is way ahead, and now even Google is way ahead of Yahoo in social networking. In terms of the potential for long-term revenue it's just not there. They've got some great sites, great information resources, news, stocks, sports, but that's not what bringing in the money." The Silicon Valley internet searches outpaced Yahoo! to rank second to that of Google in internet searches.

Bartz attempt to strike a partnership between Finland's Nokia and with the web leader, Yahoo, on an agreement to provide 'mail, maps and chat services' over smartphones did not bring much hope in the agreements as powerful competitors were ruling the internet market. Yahoo's partnership with the Chinese Internet company Alibaba Group Holding did not hold strong as it faltered to stay up in the battle with Google, the top-notch search engine.

After a prescheduled telephonic conversation with Yahoo's Chairman, Roy Bostock, who discharged her from her duties, in a note sent to Yahoo employees, Bartz communicated to all her employees by sending a report through an email which said, "I am very sad to tell you that I've just been fired over the phone by Yahoo's chairman of the board. It has been my pleasure to work with all of you and I wish you only the best going forward." The last line said, "Sent from my i Pad."

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