Yahoo’s 62 year old as CEO Carol Bartz who had still a year left for her contract to complete has been unceremoniously fired by the Yahoo Board of Directors. The news which came to light a few hours ago has been confirmed thanks to a leaked internal memo that Carol Bartz sent to all Yahoo employees after she learnt about the decision.
The memo reads thus:
Prima facie, it looks like the decision to oust Bartz has come across as a surprise to everyone at Yahoo including Ms. Bartz herself. Known for her colorful demeanor, Bartz was roped in as the CEO IN 2009 in an effort to save the first generation Internet Company. She had succeeded Yahoo Co-Founder Jerry Yang as CEO. Back then, the decision to appoint her as CEO was seen as an effort to counter the rise of new Internet giants like Facebook and Twitter – as well as the sidelining of Yahoo by arch rival Google. Two years down the line and a couple of layoffs later, Yahoo’s position remains pretty much the same – if not worse.
It is unclear, however, as to why the board decided to remove Bartz from the post just a year before her retirement.
Yahoo’s CFO Tim Morse will be taking over from Bartz as the interim CEO.
[Via Mashable]
