Yahoo's chief executive Carol Bartz has been fired by the internet company after two-and-a-half years in the top job.
The company said in a statement that its Board of Directors has appointed Timothy Morse interim Chief Executive Officer, effective immediately, replacing Carol Bartz, who has been removed by the Board from her role as Chief Executive Officer.
Yahoo! 's board has also named key senior Yahoo! executives to a newly formed Executive Leadership Council tasked with supporting Morse in managing the company's day-to-day operations until a permanent chief executive is appointed, as well as supporting a strategic review that the board has initiated to position the company for future growth.
Ms Bartz was hired to run Yahoo in early 2009. She made significant changes to the management team and cut jobs to save on costs. She also shifted the focus of the traditionally search-oriented firm towards more personalised content.However, Yahoo! has not seen enough of a turnaround under Ms Bartz's leadership, since the company has has failed to make significant strides in search and social networking.