Yahoo States Leadership Reorganization In Firing Of Bartz
March 7, 2012 by staff
Yahoo States Leadership Reorganization In Firing Of Bartz, Yahoo has just released a statement titled ‘Yahoo! Announces Leadership Reorganization’. This follows the firing of Carol Bartz from her position as CEO, which she had held since January 2009.
According to AllThingsD, Carol Bartz has announced her departure from Yahoo. At the start of today she was the company’s CEO. Not anymore.
AllThingsD managed to get hold of an email from Bartz, sent to Yahoo staff, in which she said she had been fired.
“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.” She had been with the online media company since January 2009.
CFO Tim Morse has taken on the role of CEO in the meantime.
According to reports, Morse informed senior staff at Yahoo on Tuesday afternoon that Bartz was no longer with the company and that the hunt was on for a permanent CEO.
Yahoo has just released a statement titled: “Yahoo! Announces Leadership Reorganization”.
The statement begins by confirming the news of Bartz’s departure: “Yahoo! Inc., the premier digital media company, today announced a leadership reorganization under which the Board of Directors has appointed Timothy Morse interim Chief Executive Officer, effective immediately, replacing Carol Bartz, who has been removed by the Board from her role as Chief Executive Officer.”
It also reports comments made by chairman of the Yahoo board, Roy Bostock: “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.”
Bostock continues: “I would also like to express the Board’s appreciation to Tim and thank him for accepting this important role. We have great confidence in his abilities and in those of the other executives who have been named to the Executive Leadership Council.”
Bartz was brought in to put Yahoo back on track after several years in the doldrums. However, the company continues to struggle, and board members and investors have decided it’s time for a change.
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