Carol Bartz was fired this week from her job as Yahoo CEO, but she didn't leave quietly.
In a note sent to Yahoo employees Tuesday, Bartz said the company's board had fired her. "I am very sad to tell you that I've just been fired over the phone by Yahoo's chairman of the board," Bartz wrote. "It has been my pleasure to work with all of you and I wish you only the best going forward."
In her first interview after the firing, however, she was a little less diplomatic. "These people fucked me over," Bartz told Fortune.
Bartz, who in the interim has been replaced by Chief Financial Officer Tim Morse, will receive a severance package topping $10 million, according to regulatory filings. When she took over the CEO role from co-founder Jerry Yang in January 2009, the company was struggling to become more competitive and profitable. One of her first tasks as CEO was a reorganization of Yahoo in an attempt to make the Internet pioneer faster, simpler, and more responsive to those who use its services. But under her leadership Yahoo has continued to founder, never regaining the ground it lost to Web leader Google.
Some, however, believe that the board of directors is to blame for the Bartz flameout and other company failures, and that Bartz was set up to fail. One major Yahoo shareholder wants to see a whole new board of directors at the company. … Read more
Investment adviser Third Point has acquired 5.1 percent ownership in Yahoo, and now firm CEO Daniel Loeb has decided to express his extreme displeasure with the Internet company's board of directors.
In a letter sent to Yahoo's board of directors and published today by the Securities and Exchange Commission, Loeb, a well-known hedge fund manager, announced that his firm used some of the $8 billion in cash it manages to acquire its interest in Yahoo. With 5.1 percent ownership, the firm is now the third-largest outside shareholder in Yahoo.
After announcing the holding, Loeb quickly took … Read more
Carol Bartz is out as CEO at Yahoo. Chief Financial Officer Tim Morse will take over as interim CEO while the company's board searches for a permanent replacement.
Major Yahoo shareholder calls out board on 'failures' Third Point, now the third-largest outside shareholder in Yahoo, wants a new board of directors at the company (Posted in Digital Media by Don Reisinger) September 8, 2011 1:40 PM PDT
Yahoo's post-Bartz ledger: What new CEO will inherit Yahoo's new CEO will have multiple moving parts to ponder and fix. Here's a look at what the new chief … Read more
The Yahoo aftershocks continue as Carol Bartz gives an angry, expletive-filled interview to Fortune and employees give Jerry Yang an angry, expletive-filled earful at an all-hands meeting where Yahoo tries to explain what comes next. Also, Apple upholds its reputation as a silent impenetrable fortress that doesn't care much for your security, by failing to patch Safari against fraudulent Web certificates and not saying a dang thing about it.Subscribe: iTunes (MP3) | iTunes (320x180) | iTunes (640x360) | RSS (MP3) | RSS (320x180) | RSS (640x360)… Read more
Yahoo is looking for a new CEO and anyone interested in the job will need an answer to this core question: Can this company be saved?
Listen to the analysts, the few Yahoo supporters, and an army of critics and you're excused for not having a great answer. Yahoo is at an inflection point. Yahoo will either become an also-ran that will fade or it will leverage its top 5 Web property standing and evolve into something new.
The negatives are well-known. Yahoo's board of directors is a joke--who can forget the idiotic move to turn down Microsoft'… Read more
"These people fucked me over," Bartz told Fortune, in her first interview since being fired.
Of course, Bartz will receive a severance package topping $10 million, according to regulatory filings.
Yahoo didn't respond to a request to reply to Bartz's comments.
Bartz told the magazine that she called Yahoo Chairman Roy Bostock at 6:06 p.m. ET on Tuesday for a previously scheduled conversation. When they connected, Bartz said … Read more
Following yesterday's ousting of Carol Bartz as the CEO of Yahoo, the former chief executive is now eligible for a hefty severance package.
A form 8-K the company filed with the U.S. Securities and Exchange Commission today notes that Bartz was "removed from her role" as CEO, and will receive severance benefits "for termination without cause."
According to some number crunching by CNN, that includes $3 million in cash, as well as a pro-rated yearly bonus worth somewhere between $1 million to $2 million. Add in company stock and you get an extra $5.… Read more
Carol Bartz is out at Yahoo and the stock is up, which has got to hurt. They're still raking in the cash, but shareholders hate nothing more than a plateau. Plus, Netflix swears that at least this time, its jerk move (restricting users to only one stream at a time) was a total accident, and they're definitely not doing that. Promise. Plus, Groupon's IPO roadshow is off and the IPO itself may be off for good, and the Droid Bionic has finally arrived. Hooray!Subscribe: iTunes (MP3) | iTunes (320x180) | iTunes (640x360) | RSS (MP3) | RSS (320x180) | RSS (640x360)… Read more
The four-tuner Tivo Premiere Elite makes its debut, Netflix cracks down on people who stream more than one video at the same time, and Yahoo's board fires CEO Carol Bartz after less than three years on the job.
Links from Wednesday's episode of Loaded:Yahoo! board fires CEO Carol Bartz Netflix cracks down on more than one stream Facebook for iOS gets update Apple ships 27" Thunderbolt displays Tivo Premiere Elite Reddit spins out... sort of Subscribe: iTunes (MP3) | iTunes (320x180) | iTunes (HD) | RSS (MP3) | RSS (320x180) | RSS HD