Carol Bartz officially closed the book on her unimpressive run at Yahoo by resigning from the company’s board on Friday, which a board spokesman confirmed to the New York Times yesterday. Bartz lost her job as CEO last Tuesday when Yahoo’s chairman, Roy Bostock, fired her over the phone. Bartz related the news in note that she sent from her iPad.
Bartz isn't doing to badly, though. Because the company fired her without cause,Yahoo must give her severance package worth up to $14 million, says TG Daily. When Bartz was first hired in January 2009, she was said to be on the receiving end of a $19 million compensation package.
Bartz had told Fortune that she had wanted to remain on the company's board, but called her fellow board members doofuses in the same interview. She also said the board f---ed her over.
Yahoo under Bartz has a murky record at best. While it slowly tried to remake itself as a content provider and distributor, the company debuted mediocre products and let its search business stagnate. For more, see How Carol Bartz Blew It as Yahoo CEO.
For now, Yahoo CFO Tim Morse is serving as interim CEO. Since Bartz was fired, some have floated the idea of Yahoo merging with AOL to become one gigantic irrelevant Internet company with AOL's Tim Armstrong as CEO, but AllThingsD reports that neither company has plans to combine with the other.