Yahoo CEO Carol Bartz Fired! Shares Leap 6%

Its all going on over at Yahoo right now, the firing of their CEO Carol Bartz has been greeted with applause and share prices have jumped 6% upon the news! Yahoo’s chairman Roy Bostock informed Bartz of the bad news yesterday and the company has installed CFO Tim Morse as interim CEO. Will this decision impact positively for Yahoo in the long run?

Yahoo’s investors clearly seemed happy with the decision to remove Carol Bartz from her position, Mashable reports that shares closed on $13.72 each . The internet giant’s future has been a large topic of discussion, rumors of it even being sold as a result of this announcement. Yahoo struggled under the Bartz reign, Google and Facebook both swallowed up the advertising revenue the company used to be reliant on. The internet boss was unable to kick start Yahoo back to the money making machine it was, ultimately it was her downfall.

According to The Guardian, Yahoo has already begun headhunting potential candidates to fill the vacant role as CEO. If some of the rumors are true and that Yahoo is sold, there would be no need to get a new boss at all. Microsoft made an approach to buy Yahoo back in 2008 but they decided to decline and continue with their review for future growth. The internet giant did not rule out being sold in the future if the right buyer came calling. This year they shows a sign of intent to strengthen by trying to acquire video streaming service, Hulu.

Bartz took the helm in 2009 and only lasted 18 months in the job, falling behind big rivals being one of her major failings. Upon her appointment as CEO, she immediately became an unpopular figure by cutting back costs and also employees. Since then Yahoo has seen revenues tumble by around 25%, although profits have doubled, they are not of the same standard as 6 years ago. The mere fact that Bartz was fired and shares rose is a statement about the company in itself. Will Yahoo find that inspirational leader to spearhead them back to glory?