Carol Bartz Joins Yahoo! as CEO
Yahoo! Inc. has appointed Carol Bartz, as CEO and a member of the board of directors. Bartz is a veteran technology executive, who was most recently executive chairman of Autodesk, a developer of computer-aided design software.
Prior to becoming executive chairman of Autodesk in 2006, Bartz, 60, led Autodesk as CEO for 14 years. During her tenure as CEO, revenues increased from less than $300 million to more than $1.5 billion, and the company’s share price increased nearly ten-fold. Yahoo! will be hoping Bartz can now apply her Midas touch to Yahoo! too.
Speaking on her appointment, Carol Bartz said, "Yahoo! is a powerful global brand with a great collection of assets, strong technology, and enormously talented employees. The company has accomplished a great deal in its relatively short history and I look forward to working together to take it to the next level. 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."
Yahoo! founder –Jerry Yang, has also given a thumbs up to Bartz. "I couldn’t be more pleased with the board’s choice of Carol Bartz as CEO and look forward to returning to my former role as Chief Yahoo. I believe Carol is the ideal person to take Yahoo! forward and I will be honored to be a resource to assist her in any way she finds helpful," he said.
Yahoo! also announced that president Sue Decker has informed the board that she will resign after remaining with the company for a transitional period.
Bartz has also worked with Sun Microsystems, Digital Equipment Corporation and 3M. She has been the lead independent director of Cisco Systems since 2005 and a director since 1996. She also currently serves on the board of directors of Intel Corporation and NetApp. She holds a bachelors degree in Computer Science from the University of Wisconsin.
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