Yahoo! Chief Executive fired "over the phone"

As Yahoo!'s growth stagnates, Chieif Executive Carol Bartz has been fired.

Internet corporation Yahoo! fired Chief Executive Carol Bartz "over the phone", the Telegraph reports.

Bartz sent a note to the company's employees from her iPad, saying, "I am very sad to tell you that I've just been fired over the phone by Yahoo's Chairman of the Board. It has been my pleasure to work with all of you and I wish you only the best going forward."

In a statement, Yahoo! said that Chief Financial Officer Tim Morse would replace Bartz temporarily, with immediate effect, while the company searches for a permanent replacement.

Chairman of the Yahoo! board, Roy Bostock, said, "Our primary objective is to leverage the Company's leadership and current business assets and platforms to execute against these opportunities.

"We have talented teams and tremendous resources behind them and intend to return the Company to a path of robust growth and industry-leading innovation."

Bostock thanked the former Chief Executive for her service during "a critical time of transition in the company's history, and against a very challenging macro-economic backdrop".

Bostock is known for her tough business approach and has been blamed for the breakdown of Yahoo!'s relationship with China's Alibaba, in which they hold a 40 per cent stake.

Read the full article here.

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