According to sources at the company, Yahoo’s Carol Bartz is no longer CEO of Yahoo. CFO Tim Morse has been named interim CEO.

The situation around the departure is unclear, but Bartz has had a very rocky tenure in her 30 months at the company.

[UPDATE: Yahoo confirmed the departure of Bartz, but gave no further details.]

Bartz also sent a stunning email to staff, saying she had been ousted:

To all,
I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s Chairman of the Board. It has been my pleasure to work with all of you and I wish you only the best going forward.
Carol

Several sources said the board, specifically Chairman Roy Bostock and Co-founder and director Jerry Yang, seems to have acted today, informing Bartz of the need to make a change.

What the next steps will be are unclear, but Yahoo needs desperately to explore a range of changes to bring it back to its former glory.



Read full news here:

http:///?p=2964

Yahoo still does enough businss online to stay in biz and pay staff? Lol.

1) Firing someone over the phone is very tacky and unprofessional. If this can happen to a CEO, then no one's job means anything anymore

2) According to the CNN piece I watched on this about an hour ago, yahoo has 600m users. Not bad at all, if you ask me.

3) Sadly, these days it's all about shareholder value so that even if you are profitable, if you don't add to the bottom line, you are at risk.