Yahoo sacks CEO Bartz

MCV Staff 7th September 2011 Business News

Internet services provider Yahoo has sacked its CEO Carol Bartz after two and a half years in the role.

I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s Chairman of the Board,” Bartz told employees via an internal email, published by Wired. It has been my pleasure to work with all of you and I wish you only the best going forward.”

CFO Tim Morse will serve as the interim CEO until a replacement can be appointed.

Despite the sale of its search engine to Microsoft, Bartz was unable to prevent further stock market slides or significantly increase revenues at the company.

At present Yahoo’s market cap stands at around 37 per cent of what it was when Microsoft tried to acquire the business in late 2007.

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