Yahoo Ousts CEO Carol Bartz, Replaces Her With CFO And .

The company named CFO Tim Morse interim CEO. An "Executive Leadership Council" has been formed to support Morse until a full-time CEO is appointed, Yahoo said in a statement. The council consists of Michael Callahan, Executive Vice President, General Counsel and Secretary; Blake Irving, Executive Vice President and Chief Product Officer; Ross Levinsohn, Executive Vice President, Americas; Rich Riley, Senior Vice President & MD, EMEA Region; and Rose Tsou, Senior Vice President, APAC Region. Yahoo co-founders David Filo and Jerry Yang, will continue as Chief Yahoo and will provide counsel to Morse and the council.

Bartz, who has been with Yahoo for 30 months, had not turned the company around – the stock price is pretty close to that of when she took over and she's had some run-ins with co-founder Jerry Yang who has become more involved with the company recently. He stepped down from the CEO position to allow Bartz to take charge.

Yahoo Ousts CEO Carol Bartz, Replaces Her With CFO And .

Carol Bartz Confirms Her Own Firing — From Her iPad | TechCrunch

What the next steps will be are unclear, but Yahoo needs desperately to explore a range of strategic changes to bring it back to its former glory.
But Wall Street liked the move, with Yahoo stock up more than six percent already in after-hours trading.
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 will be 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.
As I wrote earlier today, when the Internet giant announced on January 13, 2009, that it had hired longtime Silicon Valley tech veteran — who was well-regarded for her tenure at running Autodesk — to replace outgoing CEO and co-founder Yang and turn around the company, there was much hope.

Carol Bartz Confirms Her Own Firing — From Her iPad | TechCrunch