The Yahoo board of directors announced the dismissal of its CEO, Carol Bartz, after more than two and a half years of management, as part of a reorganization of its top management in times of crisis.
Bartz, 63, will be replaced temporarily by Tim Morse, who will combine the new features in his current position as CFO of the company.
"Our main goal is to influence the leadership of the company and our current business assets and platforms to take advantage of opportunities, "said Yahoo Chairman Roy Bostock.
Bostock was one of the greatest supporter for Bartz when she became chief executive of Yahoo in January 2009 with the aim of reforming the company to regain its competitiveness , the same purpose for which it was made the new restructuring in the cockpit.
"We are committed to explore and evaluate possibilities and opportunities that will put Yahoo in the path of growth and innovation and will involve a value for shareholders," said Bostock.
The company did not elaborate on the reasons that led to the hasty departure of Bartz. Bostock thanked Bartz for his service in what he called "a critical time of transition in company history amidst a very challenging macro-economic situation. "
Bartz's dismissal comes just two weeks after the resignation of Steve Jobs, Apple's CEO, another major Silicon Valley companies.