Yahoo names Bartz CEO
Carol Bartz, former CEO of software firm Autodesk Inc., has accepted an offer to become CEO of Yahoo. In its release, the company called her a "seasoned technology executive" and a "savvy leader." She will replace Jerry Yang who announced his resignation in November - pending appointment of a replacement.
"We are very excited to have Carol Bartz leading Yahoo into its next era of growth. She is the exact combination of seasoned technology executive and savvy leader that the board was looking for, and we are thrilled to have attracted such a world-class talent to Yahoo," Roy Bostock, Yahoo's chairman of the board, said in a statement. "She is admired in the Valley as well as on Wall Street for her deep management expertise, strong customer orientation, excellent people skills, and firm understanding of the challenges facing our industry. Carol meets all of the criteria we set for the search and is the only person to whom we offered the job."
Bartz, 60, was CEO of Autodesk until 2006 when she became executive chairman. The company makes design software for engineers, architects and manufacturers.
"Yahoo is a powerful global brand with a great collection of assets, strong technology, and enormously talented employees," Bartz said in the statement. "There is no denying that Yahoo! has faced enormous challenges over the last year, but I believe there is now an extraordinary opportunity to create value for our shareholders and new possibilities for our customers, partners and employees. We will seize that opportunity."
There's been undying speculation as to who Yang's replacement would be. Many anticipated Yahoo's president, Sue Decker, would be named. In its statement, Yahoo said Decker informed the board that she will resign after remaining with the company for a transitional period.
Bartz is on the board of Cisco Systems along with Yang and Intel Corp. with Decker.