Yahoo CEO Bartz fired
7 September 2011 05:36 am
Yahoo Inc Chairman Roy Bostock fired CEO Carol Bartz over the phone, ending a tumultuous tenure marked by stagnation and a rift with Chinese partner Alibaba.
Chief Financial Officer Tim Morse will step in as interim CEO, and the company will search for a permanent leader to spearhead a battle in online advertising and content with rivals Google Inc and Facebook.
Shares in Yahoo jumped 6 percent in after-hours trading. They are scarcely higher than where they were when Bartz first took the reins in January 2009 with hopes of reviving stalled growth and competing with up-and-coming rivals. (Reuters)