Scott Thompson will be replaced temporarily by the company's global media chief. Four board members are also stepping down.
These chiefs have damaged their companies with their scandalous behavior.
In another blockbuster deal, the social network has agreed to pay $550 million for hundreds of licenses once owned by AOL.
A focus on online media should help the company compensate for declining revenue from print advertising.
Analysts suggest that the search engine giant could be considering an acquisition soon.
The huge shift to remote storage may be powered by dirty energy.
This month's rapid changes in sentiment and market direction all point to a lack of firmly held conviction that stocks are either overvalued or undervalued at current levels.
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MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
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The IRS is struggling to combat identify thieves who file fraudulent tax returns in the names of older residents who don't need to file.