Wed, September 07, 2011
Yahoo! chief executive Carol Bartz has left the Internet giant and been replaced by chief financial officer Tim Morse, the Wall Street Journal reported Tuesday, citing unnamed company sources.
Bartz took the Yahoo! helm from co-founder Jerry Yang in early 2009, overhauled the management team and cut costs in a shift away from the company's online search roots to becoming a venue for personalized content.
But the Silicon Valley veteran has come under fire for what some say has been a rocky tenure.
The newspaper reported in its All Things Digital blog, citing "several sources", that Bartz had been informed today of the "need to make a change" by Yang and board chairman Roy Bostock.
Morse was named interim CEO, it said.
At the annual shareholders' meeting in June, one investor challenged her to explain the company's languishing stock price and posts by bloggers contending that a hunt was on for her replacement.
"Thanks for your opinion, the blogger's opinion, and the rumors," Bartz replied, not addressing any of the points raised. "That was certainly a downer."
(Agencies)
