Carol Bartz, the Chief Executive of
Yahoo has been fired after two-and-a-half years in the top position.
Ms. Bartz was hired to run Yahoo in early 2009, taking over
from co-founder Jerry Yang. To make her
mark she made significant changes to the management team and cut jobs to save
on costs. She also shifted the focus of the traditionally search-oriented firm
towards more personalised content.
However, in 2011, Yahoo is still struggling to increase its
market share, as it faces increased competition from rivals such as Google and
Facebook. Without the internet company
making significant strides in search or social networking, two of the most
lucrative segments of the market, they are still a long way behind their
rivals.
Carol Bartz leadership came to an abrupt end as the Chairman
of the board ended her term over the phone with immediate effect. Larry Magid, a technology analyst at C-net, justified
the move stating that the company has not seen enough of a turnaround under Ms.
Bartz's leadership.
Tim Morse, Yahoo's chief financial officer, will take over
from Ms Bartz. Yahoo shares jumped more than 6% in after-hours trading after
news of the firing broke, indicating they would trade higher when Wall Street
opened for business on Wednesday.
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