Deals
Yahoo Surges After Chairman Ousts CEO With a Phone Call
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Yahoo! Inc. surged after firing Chief Executive Officer Carol Bartz, whose reign was marked by falling sales, lost share to rivals and a dispute with Asian partners that stunted growth in the world’s largest Web market.
Bartz said in a memo to staff yesterday that she was terminated by Chairman Roy Bostock by telephone. The Sunnyvale, California-based company announced a strategic review aimed at helping revive growth at the most-visited U.S. Web portal, and said Chief Financial Officer Tim Morse will be interim CEO. The shares rose 5.4 percent.