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YHOO – CEO sacked, stock jumps in afterhours

Carol Bartz Out at Yahoo

Several sources said the board, specifically Chairman Roy Bostock and Co-founder and director Jerry Yang, seems to have acted today, informing Bartz of the need to make a change.

What the next steps will be are unclear, but Yahoo needs desperately to explore a range of changes to bring it back to its former glory.

Sources said Morse held a call with Yahoo’s senior staff this afternoon, telling them Bartz was out and that a search for a permanent CEO is commencing.

Why Yahoo’s board did not name a new leader immediately is curious and might indicate a larger deal around Yahoo is in the offing.


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