Yahoo Fires Bartz: Numbers Speak Volumes

September 7, 2011

Yahoo finally confirmed rumors late Tuesday that the board of directors has fired CEO Carol Bartz. Timothy Morse stepped in as interim CEO, effective immediately. The board has also named senior Yahoo executives to a newly formed executive role tasked to support Morse in managing the company's daily operations until a permanent chief executive is appointed, as well as supporting a strategic review that the Board has initiated to position the company for future growth.

It's been a rough few years for Bartz and Yahoo. The Sunnyvale, Calif., company continues to die a slow death. U.S. advertisers will spend 20.2% more this year -- reaching $31.3 billion, up from $26 billion in 2010, according to eMarketer estimates -- but Yahoo market share could decline as much as 11% this year, down from 13.3% in 2010.

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