Yahoo fires CEO
Carol Bartz – you’re fired
The chief executive of ailing search giant Yahoo has been fired.
Carol Bartz, who joined the company amid widespread optimism in early 2009, was known for her openness and risk-taking management style. She was one of the key supporters of the Yahoo & Microsoft Search Alliance, which saw Yahoo hand over its natural search listings to Microsoft.
Carol Bartz fired by phone
The news broke when Ms Bartz sent colleagues an email, saying: “I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s chairman of the board.” Her replacement as interim chief executive will be Timothy Morse, the company’s chief financial officer.
Failure to grow online advertising income over the last two years has been widely identified as a key reason for her dismissal. Yahoo’s share of US display ad revenues is expected to drop to 13.1 per cent this year compared to 15.8 per cent in 2009, according to figures from digital trend tracker eMarketer. Over the same period, Facebook is tipped to see revenues jump to 17.7 per cent as opposed to just 7 per cent two years earlier.
Mark Baker, online marketing manager at theEword, said: “Carol Bartz has paid the price for failing to restore Yahoo’s reputation among advertisers. After a difficult few years, Yahoo’s management team will need to move quickly to reassure everyone that they have a long-term growth strategy for the company.”