Yahoo!, the leading digital media company, has announced a leadership reorganization under which the Board of Directors has appointed Timothy Morse interim chief executive officer (CEO), effective immediately, replacing Carol Bartz (pictured above), who has been removed by the Board from her role as CEO.
The Board has also named key senior Yahoo! executives to a newly formed Executive Leadership Council tasked with supporting Morse in managing the company’s day-to-day operations until a permanent chief executive is appointed.
Roy Bostock, chairman of the Yahoo! Board, said, “The Board sees enormous growth opportunities on which Yahoo! can capitalize, and our primary objective is to leverage the company’s leadership and current business assets and platforms to execute against these opportunities.”
Bostock continued, “On behalf of the entire Board, I want to thank Carol for her service to Yahoo! during a critical time of transition in the company’s history, and against a very challenging macro-economic backdrop. I would also like to express the Board’s appreciation to Tim and thank him for accepting this important role. We have great confidence in his abilities and in those of the other executives who have been named to the Executive Leadership Council.”
In addition to Morse, who will also continue in his role as chief financial officer of Yahoo!, the Executive Leadership Council will consist of Michael Callahan, executive VP, General Counsel and secretary; Blake Irving, executive VP and chief product officer; Ross Levinsohn, executive VP, Americas; Rich Riley, senior VP & MD, EMEA Region; and Rose Tsou, senior VP, APAC Region.
The co-founders of Yahoo!, David Filo and Jerry Yang, will each continue as Chief Yahoo and will provide counsel to Tim and the Executive Leadership Council. The announcement was made Tuesday, Sept. 6.
Photo courtesy: Yahoo!