Carol Bartz Fired, No Longer CEO Of Yahoo
The number two search company in the U.S. has for some time been seeking a way to return to the top but falling considerably short behind Google with more than 70 percent market share. Bartz, who many thought would bring Yahoo back from its lull, seems was not up to the task.
From All Things D:
While Bartz has streamlined certain areas and made some strong management hires, her performance has been decidedly bumpy and mostly downhill.
The share price has settled in at about $12.50 (just about where it was when Bartz took over), Yahoo’s recent financial results have been weak, its key advertising business is struggling, its attrition rate among engineers and others is startlingly high and its product innovation cycle seems stopped up.
Bartz, by her own admission, told Yahoo employees via memo her leaving was not on amicable terms.
"I am very sad to tell you that I've just been fired over the phone by Yahoo's Chairman of the Board," she said in a terse email. "It has been my pleasure to work with all of you and I wish you only the best going forward."
No word on who Yahoo is looking to replace as new CEO.
Reach Jacob Chung here.
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