After 30 months as Yahoo's CEO, Carol Bartz has been ousted from the company. Her interim replacement is former Chief Financial Officer Tim Morse, who joined the company in 2009.
Bartz's appointment as Yahoo CEO was meant to help turn the company around, a task she took on by reorganizing and whittling away under performing products and services. Nonetheless, the company has struggled to produce major new Web properties or regain lost ground on its stock price.
But even before Bartz got there, it's been a rough ride for the Web pioneer. Let's take a look at some of the ups and downs for the company since the original deal from Microsoft in 2008.
January 29, 2008: Yahoo announces a layoff of about 1,000 employees while reporting fourth-quarter earnings. "We're making good progress executing on this strategy, and I'm confident we're heading in the right direction," then CEO Jerry Yang says. "This sort of transformation takes time, but we have the talent and the strong cash flow to succeed."
February 1, 2008: Microsoft publicly announces its $44.6 billion cash-and-stock offer to acquire Yahoo. "Microsoft's consistent belief has been that the combination of Microsoft and Yahoo clearly represents the best way to deliver maximum value to our respective shareholders, as well as create a more efficient and competitive company that would provide greater value and service to our customers," Microsoft CEO Steve Ballmer says in a letter to Yang and Yahoo Chairman Roy Bostock. Yahoo's stock surges from a close of $19.18 the day before the offer was made public to close at $28.38.
February 4, 2008: Yahoo axes its music service to coincide with a deal made with Rhapsody.
February 11, 2008: Yahoo rejects Microsoft's offer, saying "Microsoft's proposal substantially undervalues Yahoo." The company would repeat this rationale several times in coming negotiations.
February 12, 2008: Yahoo's layoffs begin. … Read more