Yahoo boss Carol Bartz is fired by US internet company

Yahoo's chief executive Carol Bartz has been fired by the internet company after two-and-a-half years in the top job.

The company said in a statement that Ms Bartz was removed by the board of directors, effective immediately.

Tim Morse, Yahoo's chief financial officer, will take over from Ms Bartz.

Yahoo has been struggling to increase its market share as it faces increased competition from rivals such as Google and Facebook.

Yahoo shares jumped more than 6% in after-hours trading after news of the firing broke, indicating they would trade higher when Wall Street opened for business on Wednesday. Yahoo's stock price was up at $13.72, an increase of 81 cents.

Mr Morse will serve as interim chief executive and the board of directors will look for a new CEO, the company said.
No turnaround

Ms Bartz was hired to run Yahoo in early 2009, taking over from co-founder Jerry Yang.

She made significant changes to the management team and cut jobs to save on costs. She also shifted the focus of the traditionally search-oriented firm towards more personalised content.
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“Start Quote

I am very sad to tell you that I've just been fired over the phone by Yahoo's chairman of the board”

End Quote Carol Bartz Former CEO, Yahoo

However, Larry Magid, a technology analyst at C-net, said the company has not seen enough of a turnaround under Ms Bartz's leadership.

"She hasn't done anything to change the company's fortunes, and they are still anxious to find a leader who can move them up," he said.

Critics also claim that Yahoo has failed to make significant strides in two of the most lucrative segments of the market - search and social networking.

"Facebook is way ahead, and now even Google is way ahead of Yahoo in social networking," Mr Magid added.

"In terms of the potential for long-term revenue it's just not there. They've got some great sites, great information resources, news, stocks, sports, but that's not what bringing in the money."
Phone firing

The news first broke on the Wall Street Journal's All Things D website, which quoted an email from Ms Bartz to Yahoo staff. The email has since been reported by other news agencies including Bloomberg and Reuters.
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“Start Quote

Unless a new leader can get many more of us to start talking about and using Yahoo's services, then the long process of gentle anonymous decline looks set to continue”

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image of Rory Cellan-Jones Rory Cellan-Jones Technology correspondent, BBC News

* Read Rory's blog in full

"I am very sad to tell you that I've just been fired over the phone by Yahoo's chairman of the board," Ms Bartz said in the email to staff.

"It has been my pleasure to work with all of you and I wish you only the best going forward."

As news of the sacking spread across the internet, Yahoo released its own press statement in which it confirmed it was undergoing a "leadership reorganisation" and that Ms Bartz would be leaving the company.

Roy Bostock, chairman of Yahoo's board, said in the statement: "On behalf of the entire board, I want to thank Carol for her service to Yahoo during a critical time of transition in the company's history, and against a very challenging macro-economic backdrop."

He added that he saw "enormous growth opportunities" for the firm.
Lack of direction?

Despite being one of the pioneers in the online search business, Yahoo has seen its market share dwindle in recent times.

Not only have the users turned to its rivals, advertisers have also been ditching the company.

Research firm eMarketer has projected that Facebook will overtake Yahoo in online display advertising in the US this year.

Analysts said a lack of focus and direction have hurt the company's image.

"They went down the road of search, they went down the road of media, becoming a content company, they went down the road of advertising," said Michael Yoshikami of YCMNet Advisors.

"I'm not sure where they go right now. One wonders if this means that

http://www.bbc.co.uk/news/business-14816077

She made significant changes to the management team and cut jobs to save on costs. She also shifted the focus of the traditionally search-oriented firm towards more personalised content.

Well, i just hope the new boss will take yahoo there,

to say the truth yahoo is far from facebook in terms of social network.the news and other things on it are incomparable to facebook. facebook brings a lot of people together and that is what we called social network.even in terms of advertisement,facebook does it better than all.Make den no try facebook ooo except if they will use atagigun se tiro.

every company,individual,body or group dont recognise yahoo now.even mails are sent with facebook now and only one page will do a lot of social networking for you.you poke,you chat,u read news,u comment,u laugh to comedies,u view different people and ideas and so on on facebook.Yahoo is only jealous of facebook achievements.even,last week,i gat a notice for an interview in a company on facebook which i printed to the interview venue but remember you cannot open facebook account without open an e mail with yahoo,g mail etc.So,let yahoo first prohibit facebook to use their website as a first condition of opening a facebook account but they will not do becos from there,yahoo still generate a revenue and create publicity,popularity and awareness.


But google pass all of them or what do you think or facebook pass all of them but yahoo dey far far back

And they say what a man can do a woman can do better,rubbish.

And they say what a man can do a woman can do better,rubbish.

smart move on their part.

they have been on the fringes for too long.

Were they sleeping when Google, Facebook was grabbing market share.

ksam:

And they say what a man can do a woman can do better,rubbish.

and your post was just that, rubbish.

Good riddance.

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Seun this opportunity for you. . . . you can be the next CEO of yahhoo

seedord247:

Seun this opportunity for you. . . . you can be the next CEO of yahhoo

Yahoo will be in debt and will be forced to close shop within 3 mths. A lot of people dont take lightly to being banned for the fun of

it. Whatever earthly possession Seun has, he will sell to liquidate judgement debts

Yahooo is dead waiting to be buried. They've not introduced any innovation since yahoo mail. Shame.

afam4eva:

Yahooo is dead waiting to be buried. They've not introduced any innovation since yahoo mail. Shame.

I kind of agree. Basically they have to fight both Facebook AND Google. I do not envy them in that task.

Perhaps they should see if Microsoft wants to buy 'em. . .

Hopefully other companies in the US will take a cue from yahoo and fire their over compensated top dogs during economic downtown as opposed to massive lay-off and sticking it to the small guys that do all the hard work!

eeeya sorry. it is not the CEO's fault, she just happens to be the fall lady. let's face it, Facebook has turned into a nightmare for even Google, fb is just unstoppable. i would advice yahoo to keep its ear to the street in order to hunt down and buy the elusive whizkid who's working out of his garage and has the potential to become the next Gates, Jobs, Zuckerberg or the google guys. another option for yahoo would be to diversify and start selling cupcakes. Americans love cupcakes.

ksam:

And they say what a man can do a woman can do better,rubbish.

Good Point

na wetin coinsign us? 

Yahoo boys are set to help out, i hope? they should remember the fingas that feed them?

Image123:

Yahoo boys are set to help out, i hope? they should remember the fingas that feed them?

so will "yahoo yahoo boys" change their name to "google google boys" or "facebook facebook boys?"

Yahoo's decline actually started when Jerry Yang held out for more money despite Microsoft's generous take it or leave offer for the company back in 2008/9. Like Humpty Dumpty, Yahoo has been in free fall since Microsoft withdrew the offer despite their attempts to patch her up. Microsoft would have that headache had they sold. Nokia in this regard is smarter. They make cool phone hardware but lack a serious cutting edge software wise. They've seen they cant match with Apple's iOS nor Google's Andriod in the coming smartphones war thus their alliance with Microsoft for Windows Phone 7/8. Expect RIM -Blackberry maker- if they can't evolve too, to be the next one to bleed.

They've seen they cant match with Apple's iOS nor Google's Andriod in the coming smartphones war thus their alliance with Microsoft for Windows Phone 7/8.

Coming smartphones war ke?
Forgive my bad seeing it's already started
In consumers hearts and minds alongside the courts
What with Apple's current legal spat with Samsung & that of HTC with the same Apple?

whiteroses:

na wetin coinsign us? 

Na correct matter. He suppose "concern" you.

Yahoo's Burial ceremony in progress. . .

It shouldn't be surprising that yahoo's influence is waning. What should be surprising is why it took this long. Yahoo unlike Facebook, Google etc never came up with any innovation that was not already existing. Yahoo is just a general service provider. They specialize in services like, Mail, Chat, Hosting, Dating etc. So, there's no way they can compete with semi-unique enterprises.

they should do a brain change, instead of Sacking him,  He only needed a brain change,   I CAN DO IT,  CONTACT ME,

En guys,

what a shame that such a mail can't be said about nigerian.

what an ineffective system we are in here.

long road-----------------?