Friday, 14 October 2011

Carol Bartz Fired From Yahoo CEO Post

Carol Bartz, the Chief Executive Officer of Yahoo! Inc. (NASDAQ:YHOO) has been outed from her position after months of speculation that there is going to be a change in the top post at Yahoo.
The major shakeup was announced by Yahoo on Tuesday via a statement. Bartz will be replaced by Yahoo's Chief Financial Officer, Tim Morse as the new interim CEO of Yahoo.

Carol Bartz
The announcement of departure of Bartz from Yahoo had a positive effect on the company's stocks, with the shares rising above 7 percent on the Nasdaq stock exchange in after hours trading. She had held the post since 2008, when she replace Jerry Yang, the co-founder of Yahoo.

Bartz's time at Yahoo has been described as an rocky era for Yahoo. She took the post of the CEO promising a full change in the company's revenue and gain the reputation that Yahoo once held. However, Bartz failed to accomplish this difficult task and was under increasing pressure from the board, investors and analysts to get the company's affairs in order. At the Yahoo's Annual shareholder day held in June, the investors spoke out against Bartz. Stockholders criticized Yahoo for its falling stock prices, and multiple top executive resignations combines with loss of revenue from display advertisement market to rivals such as Google and Facebook. Bartz fruitlessly tried to attract attention of their shareholders to increased traffic during the royal wedding and the various cost cutting measure, which failed to please the investors. A few investors went out of their way in questioning Bartz's ability to run Yahoo and called for her removal.

However, Bartz was successful in signing a search engine deal with Microsoft's (NASDAQ:MSFT) Bing and had successfully taken other cost cutting measures that have helped increase profits for Yahoo.

Yahoo! Inc. (Yahoo!) is a digital media company. Yahoo! provides engaging and innovative canvases for advertisers to connect with their target audiences. To users, it provides online properties and services (Yahoo! Properties). To advertisers, it provides a range of marketing services designed to reach and connect with users of its Yahoo! Properties, as well as with Internet users beyond Yahoo! Properties, through a distribution network of third-party entities (its Affiliates) that have integrated its advertising offerings into their Websites or other offerings (those Websites and other offerings, Affiliate sites). The Company’s offerings to users on Yahoo! Properties fall into three categories: Communications and Communities, Search and Marketplaces, and Media. During the year ended December 31, 2010, it acquired Dapper, a technology platform and acquired Citizen Sports. During 2010, it acquired Koprol, Indonesia’s location-based social network.

No comments:

Post a Comment



Information Centre