Carol Bartz Won’t Remain on Yahoo’s Board


Last week, Carol Bartz said that, despite the inelegant end of her tenure as Yahoo's CEO, she hoped to keep her spot on the company's board of directors. Sadly, it seems that the other directors, whom Bartz referred to as "doofuses" that "fucked [her] over," have made the unsurprising decision to completely sever ties. A Yahoo spokesman says she was required to give up her position on September 9, though the news only started making the rounds today. According to The Wall Street Journal, the board might be giving up on more than just Bartz:

Meanwhile, the board is putting a higher priority on evaluating a possible sale of all or parts of Yahoo over a new CEO search, people familiar with the matter have said.

Either way, things are looking increasingly grim for chairman Roy Bostock:

Some corporate-governance experts said Mr. Bostock may not survive a fight with activist shareholders. The Yahoo chairman's actions, including firing Ms. Bartz, "appear to be too little too late," said Ralph Walkling, executive director of the Center for Corporate Governance at Drexel University's business school.

Jeffrey Sonnenfeld, a senior associate dean at Yale School of Management, said Mr. Bostock "needs to publicly apologize" for his mistakes at Yahoo and "privately work on a transfer of power on the board to someone who's not as soiled by these terrible decisions."

So, does that mean we won't be hearing more about that terrible AOL merger idea?

Bartz Resigns as Director: Yahoo Board [Bloomberg]
A New Target at Yahoo [WSJ]