Yahoo fires Bartz as CEO, names CFO to fill void

Started by walkstall, September 06, 2011, 07:31:03 PM

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walkstall

Signs of the hard times I would say.






snip~SAN FRANCISCO — Yahoo Inc. fired Carol Bartz as CEO Tuesday after more than 2 1/2 years of financial lethargy that had convinced investors that she wouldn't be able to 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, Calif., said it is looking for a permanent replacement.

The shake-up was initially reported by the All Things D technology blog.

Bartz's austerity campaign has helped boost Yahoo's earnings, but the company didn't increase its revenue under her leadership at a time when the Internet ad market has been growing.

Bartz's inability to snap Yahoo's financial funk, along with recent setbacks in an online search partnership with Microsoft Corp. and an investment in Chinese Internet giant Alibaba Group, proved to be her downfall.

Yahoo has now replaced three CEOs in a little over four years. During that time, Yahoo has been losing ground in the Internet ad race to online search leader Google Inc. and Facebook even though its website remains among the world's most popular. Her ouster comes with 16 months left on a four-year contract that she signed in January 2009.
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http://xfinity.comcast.net/articles/news-general/20110907/US.Yahoo.CEO/
A politician thinks of the next election. A statesman, of the next generation.- James Freeman Clarke

Always remember "Feelings Aren't Facts."

taxed

Yahoo has been left in the dust...  Not a lot of vision anymore...
#PureBlood #TrumpWon