Leadership Shakeup at Yahoo: Board Removes CEO

(Ping! Zine Web Hosting Magazine) – In recent years, search engine Yahoo has seemingly been overshadowed by internet giant Google. Yahoo’s dissatisfaction with the current state of its company came to light yesterday when it was revealed that they’d fired CEO Carol Bartz.

Bartz had been with the company since January of 2009. According to reports, yesterday in a message to staff, Bartz revealed her departure from the company. She then went on to express her appreciation for her time at Yahoo.

Meanwhile, in a press release, Yahoo announced that company CFO Timothy Morse would work as company interim CEO while they look for a more permanent candidate to fill the spot.

Despite the shakeup, Yahoo Chairman Roy Bostock expressed optimism over the company’s future. “The Board sees enormous growth opportunities on which Yahoo! can capitalize, and our primary objective is to leverage the Company’s leadership and current business assets and platforms to execute against these opportunities,” he stated.

He continued, “We have talented teams and tremendous resources behind them and intend to return the Company to a path of robust growth and industry-leading innovation.”

The shakeup also hit as an indicator on the U.S. Stock Market. According to the Wall Street Journal, an increase in Yahoo’s stock price occurred upon the revelation. Yahoo was launched in 1995 and despite recently lagging behind Google, Yahoo has seen widespread success over the years with services including its search engine and Yahoo! Mail.