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Carol Bartz out as chief executive of Yahoo; CFO Morse to be interim CEO
SAN FRANCISCO (AP) ' Carol Bartz was fired Tuesday as Yahoo Inc.'s CEO by the Web portal's board of directors.
The company says Bartz will be replaced by Chief Financial officer Timothy Morse on an interim basis.
Bartz, 63, has had a rocky tenure at Yahoo since she was appointed CEO in January 2009. Most recently, Yahoo settled a dispute surrounding a Chinese payment service called Alipay in a way that ended up diminishing Yahoo's stake in the company.
The departure was first reported by the Wall Street Journal's All Things D technology blog.
The company plans to search for a permanent replacement for Bartz.
Yahoo shares jumped 74 cents, or 5.7 percent, to $13.65 in after-hours trading.