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.
Sent from my iPad”
The board cited a disappointment in the company’s performance claiming that Yahoo! had essentially “disappeared” since the muddled reign of founder Jerry Yang and then Bartz herself.
According to the Wall Street Journal: “Independent directors did a study of Yahoo’s assets and performance in the past two weeks and concluded the company wasn’t performing as well as it could, said a person familiar with the matter. The review came after nearly a year of board discussions about Yahoo’s flagging performance, and the independent directors ultimately decided a change at the top was the only way to turn things around, according to two people familiar with the matter.
“One of these people said Yahoo is open to selling itself to the right bidder. The board named Chief Financial Officer Tim Morse to be interim CEO while it searches for a replacement for Ms. Bartz.”