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Yahoo CEO fired

Discussion in 'General Forum' started by webguru11, Sep 7, 2011.

  1. webguru11

    webguru11 New Member

    Yahoo CEO Carol Bartz was fired, over phone, by the Chairman of Board of Yahoo while she was on a plane. Yahoo had hired Carol to make the company not only float but start sailing in the dark times. Yahoo had previously turned down a buyout offer by Microsoft at $30/share, which is over double the value of the present of $12.50.

    While Carol was there, Yahoo failed to achieve any of its overall targets. Moreover, she’s had numerous layoffs on her hands, many tiffs with Yahoo co-founder David Filo, battles with the media and loss of numerous talented executives and engineers. Also, she killed off many of Yahoo’s projects and products.

    CFO Tim Morse has been named as the interim CEO.

    Interestingly, after Carol left, the shares jumped by almost 6% and closed at $13.50/share.

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