"I am very sad to inform you that I've just been fired over the phone by Yahoo's Chairman from the Board. It has been my pleasure to work with everyone and I wish you only the best going forward, " Bartz said inside a two-sentence email to employees obtained by Reuters.
Chief Financial Officer Tim Morse will part of as interim CEO, according to a statement from Yahoo, which said on Tuesday that Bartz have been "removed" from her role. Yahoo said it would begin a visit a new, permanent CEO.
Bostock voiced his public support in June for that CEO, a lightning rod for criticism from Wall Street, and known on her tough attitude and salty language.
Shares in the company jumped a lot more than 6 percent in after-hours trade to $13. 72, from a detailed of $12. 91 on the Nasdaq. The stock was buying and selling around $12 in January 2009, when Bartz joined Yahoo, hoping to engineer a turnaround for any company then slowly ceding market share.
In January 2000, close to the end of the dot-com bubble, the stock traded at a lot more than $125 a share
Yahoo remains one of the most popular destinations on the internet, but the company is facing increasing competition from social social networking service Facebook and continuing pressure from search leader Google Inc.
WHITHER THE ACTUAL GROWTH?
The Internet company reported a slight decline in net revenue within the second quarter, as efforts to restructure its sales force triggered disruptions.
Research firm eMarketer has projected that Facebook would overtake Yahoo this season to collect the biggest slice of online display advertising dollars in the usa.
Management and the board also came under fire after the business's handling of its relationship with China's Alibaba Group, in that Yahoo owns a stake of roughly 40%.
The rocky relationship between your companies came to a head in May when it was revealed that Alibaba had abruptly handed Alipay -- among Alibaba's crown jewels -- to a company controlled by Alibaba creator Jack Ma, apparently without Yahoo's knowledge.
The news of Bartz's ouster was initially reported by tech blog AllThingsD.
"Carol Bartz was brought in to try and organize and streamline the company and frankly she's been able to achieve that. However, Yahoo is going to need a little bit a lot more than organization and streamlining, " said Michael Yoshikami, CEO at account management company YCMNET Advisors.
"They are going to need a vision of what they would like to be in the future. And I don't think investors truly understood what that clear vision was. ".