Yahoo CEO Carol Bartz has been fired and like a bad relationship between two high school kids she was told of the break-up over the phone by Yahoo’s Chairman of the Board Roy Bostock.
According to Bartz:
“I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s Chairman of the Board.”
The termination comes after Chairman Roy Bostock and co-founder Jerry Yang finally decided 30 months of steady declines was enough. During her time at Yahoo the site has failed miserably to break into the mainstream video streaming arena and has watched market share continually shrink against Google and the relatively new Bing.com search engine.
Throw in awful financial results, a near complete lack of innovation and declining advertiser interest and it’s easy to see why the company would toss Bartz to the side, even without naming a new CEO or interim-CEO to helm the organization.
In the meantime rumors are escalating that several big investors and equity firms are interested in forming some type of deal with the former #1 search engine, possibly leading to a takeover in the near future.
After news that Bartz was fired shares at Yahoo were up by 6% in after-hours trading.
Do you think Yahoo made the right decision in firing Carol Bartz? I personally don’t think they could do much worse and some new, hopefully more innovated blood could help the company find a sustainable focus.
You know who won’t be calling Carol Bartz to offer their condolences? Michael Arrington.