In what is the latest turn in the recent happenings at Yahoo, Carol Bartz has resigned from the company’s board of directors, close on the heels of her last week ouster as the CEO.
According to a confirmation by a Yahoo spokesman on Sunday, Bartz’s resignation – which took effect last Friday – is a result of immense pressure from investors who have long been expressing their displeasure at the management and performance of the Internet firm.
Yahoo chief executive Carol Bartz is facing crisis as internet giant’s three top executives are departing to try their luck elsewhere.
The departing executives are: Hilary Schneider, David Ko and Jimmy Pitaro. Hilary Schneider was in-charge of Yahoo's advertising in the US; David Ko was responsible for mobile and audience; while Jimmy Pitaro was running the division that created the heavily trafficked sports, news and finance sections of Yahoo's website.
The technology site All Things Digital was the first to disclose the departures. Yahoo confirmed that report on Thursday.
Yahoo Inc.’s Chief Executive, Carol Bartz sympathized with shareholders at the web biggie's annual summit on Thursday, accepting that the firm's stock price has plunged.
However, Bartz promised to considerably enhance margins, close a key search association with Microsoft Corp. and carefully handle the firm's Asian investments in such a manner, which will add shareholder value in the upcoming time.
Bartz said in answer to a shareholder question regarding the stock's price, "We also think that at $14, $15, $16, Yahoo is too low".
Yahoo chief executive Carol Bartz, who took the reigns of the internet firm from the firm’s co-founder Jerry Yang a year ago, has been working hard to make Yahoo seize the 21st century.
With a view to overhaul firm’s image, she put aside $100 million last year for a worldwide marketing campaign dubbed ‘It's You!’. She decided to personalize Yahoo's recently refurbished homepage and products to expand its user-base.
Carol Bartz, who joined internet giant Yahoo last year, pocketed a pay package of more than $47 million (equivalent to £31 million) for the year of 2009.
According to the US Securities & Exchange Commission filing, Carol Bartz received an annual pay of less than $1 million, but she received $42.1 million in stock and stock options, $1.5 million in performance-related bonus, while other compensations totaled $2.61 million, taking the total pay package to more than $47 million.
Internet search giant could face trouble if it does not diversify its business, Yahoo chief executive Carol Bartz said in an interview.
During an interview with the BBC News, Carol Bartz said that Google would have to do a lot more than just online search.
Speaking on the topic, she said, "Google is going to have a problem because Google is only known for search."
Yahoo chief executive Carol Bartz has confirmed that the company is looking to make small acquisitions, but she remained mum on social network Foursquare, which has more than one million users.
Carol Bartz’s comments emerged during her first visit to the UK. She said that location-based services would be a major growth driver for the internet company.