Yahoo fires its CEO Carol Bartz!
Yahoo!'s board of directors fired chief executive Carol Bartz, less than three years after she was brought in to help turn around the struggling Internet company.
Yahoo! said Bartz was being removed "effective immediately" and that chief financial officer Timothy Morse would serve as interim chief executive while the board of directors searches for a new CEO.
Yahoo! also said it had named an Executive Leadership Council to carry out a "comprehensive strategic review" of the Sunnyvale, California-based company.
"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," Yahoo! chairman Roy Bostock said in a statement.
While thanking Bartz, who replaced Yahoo! co-founder Jerry Yang as chief executive in January 2009, Bostock made it clear that the board believes the company has failed to live up to its potential.
"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," he said
feels nice to hear of someone getting fired