Wednesday, September 7, 2011

Yahoo CEO Bartz fired over the phone

Yahoo Inc. Chairman Roy Bostock fired CEO Carol Bartz over the phone Tuesday, ending a tumultuous tenure marked by stagnation and a rift with Chinese partner Alibaba. Chief Financial Officer Tim Morse will step in as interim CEO, and the company will search for a permanent leader to spearhead a battle in online advertising and content with rivals Google Inc. and Facebook.Shares in the company jumped 6 percent. They are scarcely higher than where they were when Bartz first took the reins in January 2009 with hopes of reviving stalled growth and competing with up-and-coming rivals.

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