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Tuesday, September 6, 2011

Yahoo's Bartz Out

BARTZ OUT AT YAHOO: Yahoo boss Carol Bartz has stepped down as CEO of Yahoo, according to the Wall Street Journal. She will be replaced by CFO Tim Morse on an interim basis. Bartz’s rocky tenure began just 30 months ago, with Chairman Roy Bostock and Co-founder/Director Jerry Yang informing her of their desire to make a change. While Bartz has streamlined certain areas and made some strong management hires, her performance has been decidedly bumpy. The share price has settled in at about $12.50, just about where it was when Bartz took over, though Yahoo’s recent financial results have been weak. Players who have sniffed around of late include Silver Lake Partners, Andreessen Horowitz, former News Corp. exec Peter Chernin and Providence Equity Partners, among others. Also in the Wall Street rumor mill recently are large companies: AT&T, News Corp. and Verizon. (9/6p)

 
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