Carol Bartz, CEO of Yahoo Inc, was fired by chairman Roy Bostock over phone on Tuesday due to ongoing conflicts with Chinese partner Alibaba and overall negative growth of the company during turbulent tenure spread over more than two and half years.
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| Yahoo CEO Carol Bartz Fired by Chairman Roy Bostock |
Chief financial officer Tim Morse is expected to act as interim CEO until company finds someone to replace Bartz permanently and lead the company to restore its share in online advertising and content with rivals Google Inc and Facebook.
Shares of the company jumped 6% in after-hours trading to $13.7 after closing at $12.90 on the Nasdaq. They are barely higher than where they were when Bartz first took the charge as CEO in January 2009 with hopes of revitalizing stagnant growth and competing with present and upcoming rivals.
Although the decision is not much of the surprise for many experts who have close eye on the growth and current situation of the company; but even then some analysts said Bartz's exit hinted the company had run out of options after failing to rule the advertising and content markets and handing over its search operations to Microsoft Corp.
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