Feeds

Yahoo! fires! CEO! Carol! Bartz!

Over the phone

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

Carol Bartz is no longer the CEO of Yahoo!, according to a report citing sources at the company, and she has apparently confirmed the news with a brief note to company employees.

The company has not yet responded to a request for comment.

AllThingsD reports that chief financial officer Tim Morse has been tapped to serve as interim CEO, but it says the circumstances surrounding the news are "unclear". It cites unnamed sources, but these sources merely say that the Yahoo! board "seems to have" told Bartz that a change was in order.

This is confirmed by Mashable, which says it has obtained an email Bartz sent to company employees from her iPad. "I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s Chairman of the Board," the email reads. "It has been my pleasure to work with all of you and I wish you only the best going forward."

Yahoo! hired Bartz in January of 2009 to replace co-founder Jerry Yang in the CEO's role. Before joining Yahoo!, she spent 14 years as CEO of Autodesk and three more as the software company's executive chairman, and before Autodesk, she held jobs at Sun, 3M, and Digital.

Bartz replaced Yang after he rejected a $47.5bn takeover bid from Steve Ballmer and Microsoft. In June of 2008, Microsoft offered $33 a share for the popular web portal, and when Bartz came on board, its share price was just over $12.

When Bartz arrived, she significantly reorganized and streamlined operations, and inked a ten-year search partnership with Microsoft. But the company never quite shed the specter of the acquisition that never was. Yahoo!'s second quarter earnings were down five per cent year-on-year, and Yahoo! said that the shortfall was do in part to poor returns from the company's Microsoft partnership. ®

Update

With a press release, Yahoo! has now confirmed that Bartz has been removed as CEO and that Tim Morse has been appointed interim CEO. "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," read a canned statement from chairman of the board Roy Bostock.

"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."

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.