Joseph O'Halloran ©RapidTVNews | 07-09-2011
In a move that has already been welcomed by shareholders, IT giant Yahoo! has summarily dismissed its CEO Carol Bartz.
The three year reign of the outspoken former head, who had in the past turned around the fortunes of Autodesk, was ended following a phone call from Yahoo!’s Chairman of the Board on 6 September.
In characteristic style, Bartz immediately informed staff of the exact details of the dismissal new by email from her company iPad.
During Bartz’s tenure, Yahoo! had made major inroads into the world of broadcast, boosting video content to its core sites considerably. It recently published a major research project finding that online video was rapidly developing into the mainstream, evolving on three key fronts affecting viewer consumption habits, the sharing of video content and video content itself.
But the most notable example of its online video expansion plans culminated in it reportedly being one of the three firms, along with Amazon and Dish Network, bidding to take control of the Hulu over the top (OTT) video service in a deal said to be worth 2 billion.
It has not yet been revealed as to what affect Bartz’s dismissal will have on the bid. However in trading immediately after the news of the executive defenestration, Yahoo!’s share price rose 6% to trade at $13.72