Carol Bartz has been replaced as the President and CEO of Yahoo with Tim Morse who is currently the CFO taking over as the Interim CEO along with his existing role.
Carol was fired over the phone by the Chairman of the Board, Roy Bostock. She was at the helm from January 2009.
This is the note that Bartz sent out her Yahoo colleagues 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. It has been my pleasure to work with all of you and I wish you only the best going forward.
Yahoo will be building an “Executive Leadership Council” consisting of Michael Callahan, Blake Irving, Ross Levinsohn, Rich Riley and Rose Tsou who will be working with Morse, the Interim CEO as a support team. This has been announced by the Chairman as well during the release.
Carol Bartz had replaced Yahoo Co-founder Jerry Yang in 2009 as CEO and was brought in to give a new start to the faltering Internet Giant. Yahoo had steadily fallen downhill while its peers like Google had achieved new heights.
But the honeymoon period was short-lived and Carol’s approval rating declined steadily along with Yahoo’s significance in the tech arena. Yahoo was once a behemoth but had missed the social bus and was left behind with no new innovation and its search business was overrun by Google.
Prior to joining Yahoo as CEO, Carol Bartz was the executive chairman of the board of Autodesk, Inc. Bartz was chairman, president and CEO of Autodesk for 14 years and left in April 2006.
Bartz had previously held positions at Sun Microsystems. She also serves on the Board of Directors of Intel Corporation, Cisco Systems, NetApp and the Foundation for the National Medals of Science and Technology.
Bartz holds an honors degree in computer science from the University of Wisconsin.
Yahoo keeps on searching for its new direction and identity in the ever evolving technology market.