Carol Bartz Out As Yahoo! CEO — And Stock Shoots Up!
7:58 pm, September 6th | by Hillary Reinsberg
Carol Bartz is no longer the CEO of Yahoo! CFO Tim Morse is taking over as interim CEO. The news, you could say, has been a long time coming. Rumors have been circulating for some time, and at the company shareholder meeting in June, shareholders outwardly asked her to resign.
All Things D reports that the board made the decision today. Though Bartz was a promising hire back in 2009, her tenure at the company has been bumpy at best.
Since the announcement, Yahoo! stock has shot up in after-hours trading. As of 7:55 p.m. ET, stock was up 5.65%.
*Update: Bartz has now spoken up. She confirmed in a brief email to Yahoo! employees that she was fired over the phone. Here’s what she wrote:
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.