Image source: BetaNews
BY JING LIU
You're watching multisource business video news analysis from Newsy.
Yahoo! has ousted CEO Carol Bartz.
And as KTVU reports-- Bartz told her employees didn’t even get the courtesy of a face-to-face breakup.
“Bartz personally informed Yahoo employees before the company made the informal announcement. In an email entitled ‘Goodbye’ and set up from iPad, she wrote ‘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.’”
CFO Tim Morse will temporarily take over the spot.
According to Bloomberg, her superiors blamed Bartz’s unsatisfactory performance for the sacking -- after just 30 months.
“She really hasn’t looked at the bottom line and hasn’t been able to turn the company around as investors have hoped. Yahoo, of course, faces multi-competitions from Facebook, from Google.… And she almost had difficulty explaining exactly what Yahoo is. She’s kind of overseen this transition from Yahoo going from a search company to more of a medium and content company.”
Now that Bartz is out the door, what’s next for Yahoo? An analyst on CNBC has an idea.
“You fire somebody like this and you don’t have somebody waiting in the wings. That raises some point questions. They have yet to hire a head hunter. They have yet to hired an adviser. And what I am told from people inside the company is that what they actually want to do is decide strategically what they think the company should be in the future before hiring the person.”
ZDNet compiled some other options for the company...
It quotes one analyst who suggests...
“...we believe that it is more likely that the board reaches an agreement to sell the company or parts of the company before a new CEO is found.”
But another analyst sees a silver lining...
“...investors have new reason to hope to see value unlocked in Yahoo shares with this change. A new CEO may be better positioned to negotiate with partners in China were relations strained under Bartz.”
Stick with Newsy for all your business news-- and don’t forget-- Newsy's iPhone, iPad, and Android apps are updated regularly. Please check your app store to ensure you're using the latest!
Transcript by Newsy.
