Mr Morse will replace Carol Bartz. The companyâ€™s board has initiated search for a permanent CEO.
The company formed Executive Leadership Council to support Mr Morse in managing its day-to-day operations until a permanent CEO is appointed. It will consist 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.
Mr Morse said: â€œIt is an honor to be selected for this role and lead the Company with this world-class team of executives. I look forward to working with the Executive Leadership Council and the talented employees of Yahoo!, and to partnering with the Board to invest in the organization and continue to drive its ongoing growth plans.â€
The co-founders of Yahoo!, David Filo and Jerry Yang, will each continue as Chief Yahoo and will provide counsel to Mr Morse and the Executive Leadership Council.
Roy Bostock, chairman of the Yahoo! board, said: â€œThe board sees enormous growth opportunities on which Yahoo! can capitalize, and our primary objective is to leverage the companyâ€™s leadership and current business assets and platforms to execute against these opportunities.
â€œWe have talented teams and tremendous resources behind them and intend to return the company to a path of robust growth and industry-leading innovation. We are committed to exploring and evaluating possibilities and opportunities that will put Yahoo! on a trajectory for growth and innovation and deliver value to shareholders.â€
Will the move affect operations of Yahoo!?
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