Carol Bartz explains exec exits from 'foxhole'

Yahoo! chief tells worried employees to 'stay calm'

Yahoo! chief Carol Bartz sent around an internal memo Thursday encouraging her employees to "stay calm" after three top executives abruptly resigned.

"Yahoos, Carol from the foxhole here," it began, according to the Wall Street Journal's AllThingsD blog, which first obtained the e-mail. "No, actually I’m in Atlanta to give a speech later tonight, and doing some client meetings."

On Wednesday, it was announced Jimmy Pitaro, vice president of media at Yahoo!, David Ko, U.S. audience chief and Hilary Schneider, the head of operations in the U.S., had stepped down. Bartz told employees Thursday that Schneider's replacement will be named "before the end of the year." She will stay on in the meantime, helping to reorganize the unit. Bartz says Schneider’s successor will "clearly be maniacally focused on growing our top line in the region."

Bartz, who has come under fire for the company’s slow turnaround during her two-year tenure, tried to assure her shaky staff: "So everyone stay calm -- we have a good plan in place. In fact, I’m more fired up than ever and can roll with the punches. Yahoo! is a great place."