If she was successful or not is open for discussion. Fact is that the board of directors from Yahoo thought it was enough: they sacked Carol Bartz. CFO Tim Morse is temporarily taking over.
Apparently Bartz has been sacked by Chairman of the Yahoo! Board Roy Bostock, together with none other than Jerry Yang himself. The cruel thing is that he sacked her over the phone.
Bartz responded in a way which shows the break up hasn’t gone smoothly with consent from both sides. She drop an e-mail to all the Yahoo employees saying she got fired over the phone.
In a press release Yahoo states:
“Yahoo! Announces Leadership Reorganization
SUNNYVALE, Calif., Sep 06, 2011
Yahoo, 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.
The Board has also named key senior Yahoo! executives to a newly formed Executive Leadership Council tasked with supporting Morse in managing the Company’s day-to-day operations until a permanent chief executive is appointed, as well as supporting a comprehensive strategic review that the Board has initiated to position the Company for future growth.
The Board is commencing a search for a permanent Chief Executive Officer and expects to engage the services of a nationally recognized executive search firm to help it identify candidates for the position as expeditiously as possible.”
This is far from pretty and without a doubt has a lot more to it than we know now. Chances are we’ll be seeing more in the next few days.
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