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Yahoo CEO

September 7, 2011 by staff 

Yahoo CEOYahoo CEO, The change was sudden, amid a series of strategic and competitive challenges facing Yahoo. Bartz, 62 year old was informed of the decision of the council by phone and did not expect the change, said a person familiar with the matter.

Independent directors did a study of Yahoo’s assets and performance in the last two weeks and concluded that the company does not perform as well as I could, said a person familiar with the matter. The review came after nearly a year of board discussions on the performance of Yahoo’s flag, and the independent directors ultimately decided on a change at the top was the only way to change things, according to two people familiar with the matter.

Independent directors did a study of Yahoo’s assets and performance in the last two weeks and concluded that the company does not perform as well as I could, said a person familiar with the matter. The review came after nearly a year of board discussions on the performance of Yahoo’s flag, and the independent directors ultimately decided on a change at the top was the only way to change things, according to two people familiar with the matter.

One such person said that Yahoo is open to sell to the highest bidder the right.

The board appointed chief financial officer Tim Morse to be interim CEO while searching for a replacement for Bartz.

The board has not hired an executive search firm or financial advisors to assist in a strategic review, but is expected to do so soon, said a person familiar with the matter. The strategic review is not expected to include an assessment of whether Yahoo should be put on sale, but will focus on so-called “organic” growth, including possible acquisitions or alliances, the person said.

Yahoo is bidding to buy the video site Hulu LLC and that the effort is expected to continue, said another person familiar with the matter.

According to several people familiar with the situation, Bartz wrote a short note to employees Tuesday afternoon saying. “I’m very sad to say I’ve just been fired by telephone by the Yahoo chairman of the Board has been a pleasure working with you all and wish them well in the future.” She did not immediately respond to a request for comment.

The output of the CEO, who had more than a year left on her contract, highlights how the Internet industry has been redrawn and how difficult it was for a company of first-generation Web young to fend competitors.

Yahoo, the No. 1 search engine early last decade and a product of the late 1990s dot-com boom in recent years has lost ground to Google Inc. and has been affected by the social network Facebook Inc. Both companies are taking market share in sales of online display advertising and video, a market in which Yahoo was shining. The number of minutes that visitors spend in the U.S. website Yahoo sites each month has dropped 33% since the arrival of Bartz of 2 ½ years ago, according to comScore Inc.

Price Yahoo’s stock is totally in its management, compared with an increase of over 60% in the Nasdaq composite index. Revenue was largely flat in recent years and a 10-year search advertising partnership with Microsoft Corp. struck Bartz has not been successful so far. Senior executives have left in droves.

Some foreigners have Yahoo as a potential takeover target. Earlier this year, the media executive Peter Chernin came to Yahoo Chairman Roy Bostock and fellow director Jerry Yang, Yahoo co-founder about a possible deal for the site, according to a person familiar with the matter. Mr. Chernin is a former president of News Corp.

Messrs. Bostock and Yang had told him to wait until around December to restart the talks, said this person. Until recently, Yahoo’s board had planned to wait until after the end of the year, before deciding whether to replace Bartz, according to people familiar with the situation.

Bartz Out comes the same day as another high-profile executive women lost. On Tuesday, Bank of America Corp. dropped the work of Sallie Krawcheck, who was head of global wealth and investment management.

Yahoo faces challenges long before Bartz arrived in January 2009 as the third CEO in three years.

Bartz has some credit in the company to review the organizational structure and practices that challenge the thinking slow things down. Yahoo has generated a profit of over 1 million and last year.

However, some people familiar with the situation in Yahoo say long-term problems aggravated and frustrated fellow board members through the missteps that included mishandling U.S. Yahoo’s ad-sales of weapons and not to introduce innovative Web services, and sometimes seem to have a sound knowledge of the parts of Yahoo’s business. In a meeting with product managers in early 2010, according to someone who was present, said he realized most of Yahoo’s advertising space is in graphic communications services, namely, e Yahoo.

Some executives said Bartz not seem to appreciate the growing threat from Facebook. “Remember, what is your income?” she said dismissively in an interview on CNBC March 2010 after he suggested was a competitor Facebook.

With revenues flat Yahoo, shareholders have placed more value on the stakes of the company in Yahoo Japan and Alibaba Group Holding Ltd., China based company trading online, which Yahoo’s online ad companies.

Bartz relationship with Alibaba, which Yahoo has a 40% stake billions of dollars, has been tense. Earlier this year, Alibaba CEO Jack Ma, flexes its power by transferring ownership of one of Alibaba’s websites for a separate company he controlled. That hurt the stock price of Yahoo, even after Yahoo and Alibaba has reached an agreement on the incident.

A mother of three children and a breast cancer survivor, Bartz was raised in a small town in Wisconsin, where she was a high school prom queen. She became a senior executive at Sun Microsystems before becoming CEO of Autodesk Inc., which develops software for designers. In 14 years at Autodesk, which increased earnings and share price. She resigned in 2006 before being lured to the headquarters of Yahoo in Sunnyvale, California, three years later.

Mr Bostock, chairman, said he wanted “to thank Carol for her service to Yahoo.” The board is “committed to exploring and evaluating the possibilities and opportunities to put Yahoo on a path of growth and innovation and deliver value to shareholders,” he said.

Yahoo’s board will create an Executive Leadership Council CEO Mr. Morse interim support until a permanent CEO is found.

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