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Yahoo fires CEO

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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.”

Written by Richard Frost

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theEword - 19 hours ago

We’ve delivered over 20 free knowledge share events in 2014, we will round off our events calendar with our digital trends event at #Google

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theEword - 1 day ago

Read more about what Google and theEword are getting up to in Manchester next week! http://t.co/HjF13a09zo

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theEword - 2 days ago

We want you all to benefit from our event with Google! Tweet us your questions and get answers straight from Google themselves #AsktheEword

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theEword - 3 days ago

We are passionate about knowledge share and can’t wait to share snippets straight from Google with you on Monday http://t.co/HjF13a09zo

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theEword - 3 days ago

We're partnering with Google for an event looking at digital trends for 2015 next week. More info here: http://t.co/etwwXV1fwq

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