The tech world is witnessing the major leadership changes at the senior level. Last week, Apple’s CEO Steve Jobs resigned from the post of CEO and now another major company Yahoo’s CEO has been removed by Yahoo Board.
Carol Bartz have been removed by Yahoo board with immediate effect. Company’s CFO Tim Morse have been named as interim CEO. Though, Yahoo cites the removal as “Leadership Reorganization” but Carol Bartz say’s she has been fired over phone by Yahoo’s board Chairman.
Board chairman Roy Bostock said in a statement that the board can see growth opportunities on which Yahoo can capitalise. “Our primary objective is to leverage the company’s leadership and current business assets and platforms to execute against these opportunities. We have talented teams and tremendous resources behind them and intend to return the company to a path of robust growth and industry-leading innovation,” he said.
Carol Bartz faced many criticisms during her tenure as CEO of Yahoo.The advertising revenue sharing deal she negotiated with Microsoft failed to yield expected returns and initiatives failed to achieve the same success in attracting and retaining users as competitors such as Facebook and Twitter. She was also criticized for handling the “Alibaba Fiasco” which manages Yahoo’s brand and services in China. More recently, the poor second quarter results added the failure list of Carol.
The US market took the decision in positive direction and Yahoo’s shares rose upto 6%. We wish to see competitive face who can give vital power to ill and fading Yahoo.