Yahoo Board of Directors Dumps CEO Carol Bartz

It looks like the unemployment line is getting a little bit longer.

Late Tuesday, word broke that Yahoo’s board of directors has effectively removed Carol Bartz from her position as CEO of the company.

In her place as interim CEO will be Timothy Morse, a Yahoo veteran of only three months and the company’s current CFO.

With a palpable tone of frustration and a twinge of resentment, Bartz announced her departure via email to her employees.

“I am very sad to tell you that I’ve just been fired over the phone by Yahoo’s Chairman of the Board,” Bartz wrote. “It has been my pleasure to work with all of you and I wish you only the best going forward.”

The removal of Bartz as company chief underscores a process of transition and renewal that has recently begun at Yahoo, although it isn’t clear to many just what the new beginning will ultimately bring for one of the Internet’s earliest success stories.

“Yahoo hasn’t asserted what it wants to be–whether it wants to be a media or technology company–and Carol, rightly or wrongly, is being blamed for a bad search deal and a less than stellar performance,” Stifel Nicolaus analyst Jordan Rohan tells The New York Times.