Yahoo has announced today that it has replaced CEO Carol Bartz with CFO Tim Morse temporarily until a new CEO is named. Bartz was removed from her leadership role by the board likely because of her rough attitude. She was actually fired over the phone by the Chairman of the Board Roy Bostock. Bartz later released a statement in an internal email that said:
Things were rough for Bartz at Yahoo, while she made some great management changes and hires the profits still fell and Yahoo’s marketing efforts were failing as well. Yahoo’s share price had fallen back to where it was when Bartz had joined the company as well. The board was looking for change and felt pressure from investors to make a change so Bartz was fired. Now we wait to see what Yahoo plans to do next. Yahoo was once the king of search but that time has passed, what has Yahoo got left?
The news has also been confirmed by Yahoo.