When Yahoo!'s (Nasdaq:YHOO) board of directors hired Carol Bartz as CEO in January 2009, did they charge her with the job of justifying their decision to reject the $45 billion bid from Microsoft (Nasdaq:MSFT) a year earlier (the one that arguably also led to Jerry Yang stepping down)? Or was the decision simply based on the need for a new voice to lead a turnaround? Whatever the implicit, explicit-but-behind-closed-doors, or explicit reasons for bringing Bartz on board, Yahoo!'s board has tired of the experiment and fired Bartz late Tuesday.
Who's Next?
According to a message from Bartz, the chairman of the board (Roy Bostock) fired her by phone - something that may not necessarily rankle the wired generation, but a move that will likely lead to a few mutters and shakes of the head in the older generation(s). In place of Bartz, the board has named CFO Tim Morse as interim CEO and will start the executive search process.
What Now?
Oh by the way, the board is now apparently open to the idea of selling the company now - years after the point where Yahoo! ceased to be an interesting player. That, in a nutshell, is also likely a big part of the reason that the board felt Bartz had to go.
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