Yahoo’s board has made the decision fire Carol Bartz as the company’s CEO. Tim Morse, Yahoo’s CFO, has been named the interim CEO while the company searches for a new permanent CEO. This rumor came from AllThingsD and has since been confirmed by Yahoo and Bartz, but the company did not add any details surrounding the reasons behind the move.
Bartz was named CEO in January of 2009, and since that time there hasn’t been any real improvement in Yahoo’s business. Clearly Yahoo had hoped that the time under Bartz would have been more fruitful or else it would not have made such a drastic move. There have been rumors about Yahoo being for sale, and it is still one of the remaining suitors for the purchase of Hulu, so it will be interesting to see how this decision affects these rumors.
We will be following this story, and will provide any updates we can. Here is an email from Bartz to Yahoo employees about being 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.