Carol Bartz was ousted as Yahoo’s CEO with more than a year left on her contract, replaced in the interim by CFO Tim Morse. The company has formed an executive council to search for a permanent replacement.

All Things D reports Yahoo handled the transition with all the class of a frat boy dismissing a one-night stand, telling Bartz to get lost over the phone. Bartz sent out a farewell email:

To all,

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.

Carol

Bartz had been in place for 32 months but wasn’t able to help Yahoo reclaim its path to internet prominence.

Exclusive: Carol Bartz Out at Yahoo; CFO Tim Morse Named Interim CEO [All Things D]

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