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Yahoo CEO Fired Over the Phone
By siliconindia
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Wednesday, 07 September 2011, 19:06 IST
Bangalore: Carol Bartz, Yahoo's CEO, fired over the phone, ending a rocky two-year tenure in which she tried to revitalize the online media company.
Carol Bartz joined Yahoo in January 2009 after investors had become dissatisfied with the company's performance under its previous chief, Jerry Yang, a co-founder.
The outspoken CEO Carol Bartz sent an email to employees saying "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,"
Chief Financial Officer (CFO) Tim Morse has named interim CEO, and the company will search for a permanent leader to lead online advertisement and content. A new Executive Leadership Council is appointed to help oversee day-to-day operations and to support a "strategic review" to look for new growth. Michael Callahan, general counsel, Blake Irving, Executive VP and chief product officer, Ross Levinsohn, Executive VP of America and more two includes in the council along with Morse. Cofounders Jerry Yang and David Filo will continue as Chief Yahoos and will provide guidance.
But the question rise's why the directors had acted so suddenly, without having a successor ready. Yahoo's board concluded that it had given Ms. Bartz enough time and that a change in leadership was needed, according to a person familiar with the board's thinking. The final decision was made during two meetings of the company's board in recent weeks, without Ms. Bartz.
