Yahoo’s board has “fired” its CEO Carol Bartz, and has announced a reorganization of the executive staff. Timothy Morse is now the interim CEO, effective immediately. Yahoo is still looking for a new CEO and it has been rumored that the search has been going on for months now.
Yahoo has also built an Executive Leadership Council to help Timothy Morse run the company’s day to day operations. See the composition of the Council at the end of this article…
What makes this change more dramatic than usual is that Carol Bartz has sent an email notifying that she has been “fired” (her words), over the phone. It’s not clear how things went down, but usually executives and their employers keep things quiet and try to save face. This must be pretty bad.
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.
At this point, it is not clear what Yahoo will (or can) do to return to growth and profits. Its content divisions seem to be on the defensive, while services like Yahoo Answers must get most of their traffic from… Google. Yahoo News, and Yahoo Finance are still doing well, but overall the company is struggling to attract users back. What do you think? Can a Yahoo management shake-up pull things up?
Executive Leadership Council : Michael Callahan, Executive Vice President, General Counsel and Secretary; Blake Irving, Executive Vice President and Chief Product Officer; Ross Levinsohn, Executive Vice President, Americas; Rich Riley, Senior Vice President & MD, EMEA Region; and Rose Tsou, Senior Vice President, APAC Region. The Co-founders of Yahoo!, David Filo and Jerry Yang, will each continue as Chief Yahoo
Next Story: BlackBerry App World 3.0 officially released