Carol Bartz, the CEO of yahoo, was fired over phone by Yahoo Inc chairman, Roy Bostock. The CFO Tim Morse is appointed as interim CEO on an immediate basis.
I think the news was not so shockingly a surprise. The 62 year old Bartz was well known for her salty language and tough attitude. Even though in the initial years, carol Bartz got full support from the chairman and team, later she lost the appreciation due to her faulty organizational changes.
Actually, what is much shocking is that this is the third CEO replacement for the struggling search engine giant in a span of 4 years. Before the announcement of leadership change, share market witnessed a positive impact on Yahoo's shares which went up 4 cents to $12.91.This is a welcome change as the stocks of the company had suffered a 22 % decline since January. Like Yahoo, Lets also wait and watch for the next leader who is competitive enough to spearhead an online battle with strong rivals like Google Inc and face book.
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