Yahoo Inc. fired Carol Bartz as CEO Tuesday after more than 2½ years of financial lethargy that had convinced investors that she couldn't steer the Internet company to a long-promised turnaround.
SAN FRANCISCO (AP) — Yahoo Inc. fired Carol Bartz as CEO Tuesday after more than 2½ years of financial lethargy that had convinced investors that she couldn't steer the Internet company to a long-promised turnaround.
To fill the void, Yahoo's board named Tim Morse, its chief financial officer, as interim CEO. Bartz lured Morse away from computer chip maker Altera Corp. two years ago to help her cuts costs. Yahoo, based in Sunnyvale, California, said it is looking for a permanent replacement.
Yahoo Chairman Roy Bostock, also a target of shareholder frustration, informed Bartz about the move over the phone, according to an email the outgoing CEO sent from her iPad that was obtained by the All Things D technology blog. The blog first reported Bartz's ouster.
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