Bartz ousted from Yahoo CEO role

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Bartz ousted from Yahoo CEO role
Bartz ousted from Yahoo CEO role

Yahoo removed Carol Bartz from her role as CEO on September 6. Yahoo CFO Tim Morse will serve as interim CEO.

Sunnyvale, Calif.-based Yahoo named Bartz CEO in January 2009. Six months after her appointment, Bartz struck a deal with Microsoft Corp. for the Redmond, Wash.-based company to provide search technology for Yahoo sites in exchange for Yahoo handling relationship premium ad sales for both companies. Microsoft receives 12% of Yahoo's net search ad revenue as part of the deal.

However, the partnership has yet to perform as planned, Bartz said during Yahoo's second-quarter earnings call. She said Yahoo experienced a revenue-per-search earnings gap in the first quarter, which it managed to shrink by about one-fifth during the following period. It expects to eliminate the gap by the end of the year, said Bartz.

Yahoo's quarterly search-advertising revenue has experienced double-digit drops in each of the last three quarters, plummeting 45% year-over-year to $466.7 million during Q2. Second-quarter display advertising revenue grew by 2% compared with the prior year to $523.5 million, but the company's overall revenue fell to $1.2 billion, a 23% decline year-over-year.

Yahoo referred request for comment to a company statement.

AllThingsD.com first reported Bartz's ouster on September 6.

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