Another Yahoo CEO has taken a fall for the Web giant’s inability to fend off younger rivals such as Google and Facebook. Snoop Dogg tweeted that he could take over as CEO of Yahoo…WOW!!!
Carol Bartz, 62, was fired Tuesday with more than a year left on her contract. She announced the move in a note to employees Tuesday afternoon, AllThingsD reported: “I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s Chairman of the Board,” she wrote.
The move is another acknowledgement that the company has been playing a losing game of catch-up to Google. Bartz, the tough-talking former chief of the software firm Autodesk, was brought in two-and-a-half years ago to try to reverse Yahoo’s slide. But the Wall Street Journal reports that time spent on the site by U.S. web surfers has plummeted 33 percent since Bartz took over, according to comScore, and its stock price has been stagnant. Its shares leapt 6 percent on the news of her exit.
The company’s CFO, Tim Morse, will step in as interim CEO while the board hunts for a replacement.
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