What mistakes did Carol Bartz make
Yahoo fires CEO Carol Bartz
The internet company Yahoo is looking for a new boss. The previous group leader Carol Bartz, on whom high hopes rested, left the company under pressure from the board of directors. For the time being, CFO Timothy Morse will take over the helm, as Yahoo announced on Tuesday (local time) in Sunnyvale, California.
Short "term of office"
Bartz had moved to the top at Yahoo in early 2009. During her time she cooperated with the software group Microsoft for Internet searches. Despite the strong partner, Yahoo is struggling to assert itself against its larger competitor Google. With the social network Facebook, another opponent has emerged in the battle for the vital advertising money.
Investors satisfied with the decision
Investors cheered the board's decision, which came without warning. After the trading hours, the battered paper rose by more than 6 percent. Bartz wrote in a farewell email to her employees, who published the blog "All Things Digital", that she found out about her eviction over the phone.
Board of Directors boss Roy Bostock indicated a realignment of the Internet company. The board of directors has initiated a review of the strategic direction, explained Bostock. The possibilities for the future growth of Yahoo would be explored. At the same time, the search for a final CEO is ongoing.
Lost ground despite cost reductions
Bartz has cut hundreds of jobs since taking office, thereby reducing costs significantly. But Yahoo lost further ground to Google; sales shrank. Most recently, of all things, the important business with graphic advertisements weakened. These "banners" are actually Yahoo's hobbyhorse.
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