Latest News:  
Beijing   Overcast/Cloudy    26 / 18   City Forecast


Yahoo fires CEO Carol Bartz


14:07, September 07, 2011

Carol Bartz, chief executive of Internet company Yahoo Inc, is shown in this undated publicity photo released to Reuters January 13, 2009. (Xinhua/Reuters File Photo)

Yahoo on Tuesday fired Chief Executive Officer Carol Bartz and replaced her temporarily with the company's chief financial officer.

"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," said Yahoo Chairman Roy Bostock in a news release.

The Yahoo Board of Directors appointed CFO Timothy Morse as interim CEO who will manage the company's day-to-day operations until a permanent chief executive is chosen.

Before Yahoo's formal announcement, several news organizations and tech blogs posted an email reportedly from Bartz sent from her iPad to all employees of the company.

"To all, 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."

Bartz, 63, took over the Yahoo CEO role from co-founder Jerry Young in January 2009, when the company was struggling to stay competitive and profitable in a market dominated by Google. However, Yahoo never reached the heights she had foreseen.

In the most recent quarterly earnings report in June, Yahoo reported net revenue of 1.1 billion U.S. dollars, down 5 percent from last year.

Morse, 42, was hired as executive vice president and CFO at Yahoo in July 2009. "It is an honor to be selected for this role," he said in a statement Tuesday.

Yahoo said it is starting a search for a new permanent CEO and plans to hire a "nationally recognized executive search firm" to assist in the effort.


Leave your comment0 comments

  1. Name


Selections for you

  1. Conjoined twins recovering after 6-hr surgery

  2. Continuous rainfall triggers flood in Luanchuan

  3. 6 dead in military truck crash with car, truck in Mexico

  4. Say cheese!

Most Popular


  1. S. Korea turns tourist resort into naval base
  2. China committed to peace and growth
  3. WTO ruling subtle support of protectionism
  4. Let them eat cake, after tax
  5. No end in sight for crisis of Western capitalism
  6. Top leaders work their way from grass roots
  7. US harms self, others with trade protectionism
  8. US dollar depreciation will not fix debt dilemma
  9. New-edition humanitarian intervention
  10. Knowledge no longer power for rural poor

What's happening in China

Conjoined twins recovering after 6-hr surgery

  1. Former security guard enters college
  2. Cow memorial video churns online
  3. Tomb raiders remain a menace
  4. Wal-Mart apologizes for new customer fraud
  5. Shanghai blaze victims in plea over donations

PD Online Data

  1. Aites of the Kazak
  2. Dongba Art of Naxi
  3. Fish-skin Clothes of Hezhe
  4. The Mongolian-style Lele Cart
  5. Ballad of Liu Sanjie