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Yahoo! CEO Carol Bartz gets fired over the phone

Written by Andre Yoskowitz (Google+) @ 06 Sep 2011 20:28 User comments (3)

Yahoo! CEO Carol Bartz gets fired over the phone The Yahoo! Board of Directors have fired CEO Carol Bartz today.
Replacing Bartz is current CFO Tim Morse, in an interim position.

There was no word on whether Morse was a likely candidate to remain CEO into the future.

Says Roy Bostock, Chairman of the Yahoo! Board:

The Board sees enormous growth opportunities on which Yahoo! can capitalize, and our primary objective is to leverage the Company's leadership and current business assets and platforms to execute against these opportunities. We have talented teams and tremendous resources behind them and intend to return the Company to a path of robust growth and industry-leading innovation. We are committed to exploring and evaluating possibilities and opportunities that will put Yahoo! on a trajectory for growth and innovation and deliver value to shareholders.

On behalf of the entire Board, I want to thank Carol for her service to Yahoo! during a critical time of transition in the Company's history, and against a very challenging macro-economic backdrop. I would also like to express the Board's appreciation to Tim and thank him for accepting this important role. We have great confidence in his abilities and in those of the other executives who have been named to the Executive Leadership Council.

Bartz, in a last hurrah, wrote an email to employees:

To all,
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.

Bartz, one of the more high-profile hirings of the last half-decade, joined Yahoo with plans of grandeur. Instead the company has seen significant failure after failure, and a declining stock price.

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3 user comments

16.9.2011 21:07

should have done it over text or tweeted it to her. now that would have been classy.

27.9.2011 0:10

W0W!! I don`t feel so bad now, After 13 years with this company, got layed off over the phone. Guess it happen`s to the best of us.
Unemployment here I come............ oops she got fired.

This message has been edited since its posting. Latest edit was made on 07 Sep 2011 @ 0:11

37.9.2011 6:30

Could be good, I'd say many on the board weren't happy with her trying to sell Yahoo! off to MS.

That was something I thought strange as Yahoo! pretty much have evrything the same as what MS have now, so more a pointless sale, I'm sure Yahoo! will do good after this.

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