Carol Bartz Resigns From Yahoo Board
Word emerged this weekend that as of Friday, fired Yahoo CEO Carol Bartz has resigned her position on the company's board. The ever-outspoken Bartz last week gave an interview to Fortune in which she called her board colleagues "a bunch of doofuses", and, not putting too fine a point on it, added, "The f**ked me over."
If the resignation brings some closure to the company's troubles with Bartz, it sets the stage for a rising din of critiques of the remaining board members, including a Wall Street Journal piece that described Yahoo Chairman Roy Bostock as "a new target at Yahoo".
This past Thursday, hedge fund manager Daniel Loeb revealed that his fund holds a 5.15% stake in Yahoo and called for a board revamp, singling out Bostock and citing other board members he found lacking and wants replaced.
Bostock, 70, is a former athlete at Duke and is known to be scrappy. Joining the company in 2003, he won only a 60% vote for re-election in 2008, shortly after Yahoo failed to close a deal to be bought by Microsoft. His 80% tally this year was still the lowest among the company's directors. It appears that Bartz's ouster, colorful exit though it was, will soon be overshadowed by an even more intense struggle between management and investors in the coming days and weeks.Related Articles: After CEO Carol Bartz's Ouster, What's Next for Yahoo? Ousted CEO Carol Bartz: Yahoo 'F---ed Me Over'
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