As the shake-ups continue..
This evening we are hearing about what had been rumors a few weeks ago. But now appears it has come to true:

Yahoo Inc Chief Executive Carol Bartz on Tuesday said she had been fired over the phone by Chairman Roy Bostock, a source familiar with the matter quoted an internal company email as saying.

A second source said that Bartz had been dismissed by the board and replaced, on an interim basis, by Chief Financial Officer Tim Morse.

Here is the letter sent by Carol to Yahoo employees.

This is the note Bartz just sent out to Yahoo employees:

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

Sent from my iPad

Yahoo representatives were not immediately available for comment.

Yahoo’s CEO Bartz fired by chairman over phone: source

We are seeing Yahoo trading up over 6% in after hours trading.