Yahoo fires CEO over the phone

YAHOO chairman Roy Bostock fired the company’s chief executive Carol Bartz over the phone yesterday, ending a tenure marked by stagnation and a rift with Chinese partner Alibaba.

Chief financial officer Tim Morse will step in as interim CEO, and the company will search for a permanent leader to spearhead a battle in online advertising and content with rivals Google and Facebook. Bartz took the reins in 2009 with hopes of reviving stalled growth and competing with up-and-coming rivals.

On Tuesday, her efforts were halted after Bostock called with the bad news.