Yahoo Names Bartz CEO: Decker Is Out
Two months after Jerry Yang announced his resignation, Yahoo Tuesday named former Autodesk chief executive Carol Bartz to succeed him as CEO. In Bartz, 60, the beleaguered Web giant has turned to a respected high-tech industry veteran to reverse its sagging fortunes.
Yahoo said that President Sue Decker, who was also in the running for the job, would leave the company. In a statement, Yahoo Chairman Roy Bostock said Bartz "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." He added that she was the only candidate offered the job.
Bartz, who was CEO of San Rafael, Calif.-based software maker Autodesk from 1992 to 2006, faces a daunting set of challenges in her new role. Among the immediate issues that confront her are the possible renewal of talks with Microsoft over the sale of its search business and whether to pursue a deal with Time Warner for all or part of its AOL unit.
She will also have to consider further cutbacks at the company that shed 1,000 of 14,000 workers in December. Rebuilding company morale--and Yahoo's depressed stock price--after its failed merger with Microsoft last year will be longer-term tasks.
"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," said Bartz in a statement.
