Ousted Yahoo CEO Bartz, after cussing out the company, yields to pressure
Fired Yahoo CEO Carol Bartz has resigned her position on the company's board after telling Fortune her former board colleagues were "a bunch of doofuses," and adding, "they f—ed me over."
If the resignation brings some closure to the company's troubles with Bartz, it puts the heat on some of the remaining board members. A Wall Street Journal story on Sunday described chairman Roy Bostock (left) as "a new target at Yahoo."
On Thursday, hedge fund manager Daniel Loeb revealed that his fund holds a 5.15 percent stake in Yahoo and called for a board revamp, singling out Bostock and citing other board members he wants replaced.
Bostock, 70, is a former athlete at Duke and is known to be scrappy. He joined the company in 2003 and only 60 percent voted for his re-election in 2008, shortly after Yahoo failed to close a deal to be bought by Microsoft. He was re-elected by 80 percent this year, the lowest percentage 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.
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