More trouble for Yahoo! The internet company boots out its boss. But it will struggle to reboot its business

When Carol Bartz took the wheel at Yahoo! in January 2009 one of her first acts was to tell employees that she would “drop-kick to fucking Mars” anyone who was caught leaking company secrets. Now it is Ms Bartz who has been drop-kicked out of the company. On September 6th news leaked via AllThingsD, a technology-news website, that she had been ousted in a surprise coup by Yahoo!’s board. Official confirmation swiftly followed, with the news that Tim Morse, the firm’s chief financial officer, would take over as interim chief executive, supported by a leadership committee of senior managers. In ditching one of Silicon Valley’s most colourful characters, whose potty-mouthed epithets have become something of a personal trademark, Yahoo! has signalled the depth of its problems. Fixing them will not be easy.When the history of the internet industry comes to be written, Yahoo! will deserve a special place in it for all the wrong reasons. Rarely has a company managed to destroy so much shareholder value in so short a time. Before Ms Bartz was brought in to run the business, Yahoo! rejected a bid from Microsoft that valued it at around $45 billion on the ground that the offer was too stingy. Today, its market capitalisation is a mere $17 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.