Yahoo Fires CEO Carol Bartz

Carol Bartz has been abruptly fired as Yahoo Inc’s chief executive officer by the company’s board in a move seen as a major step towards reviving the fortunes of the once-mighty Internet giant.

The board informed Bartz of her firing on Tuesday through a telephone call. A source reportedly said that Bartz was not expecting the move by the board, which has been trying to boost the company’s stature amid the rise of old nemesis Google and emerging giant Facebook. A source said the board had been discussing the company’s misfortunes for a year now.

Bartz sent a short, company-wide e-mail after she received the call from Yahoo board chairman Roy Bostock. “I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s Chairman of the Board. It has been my pleasure to work with all of you and I wish you only the best going forward,” Bartz, 63, reportedly wrote, according to the Washington Post.