Web pioneer Yahoo has named former Autodesk Inc. executive chairman Carol Bartz as the new chief  executive at the Sunnyvale, California-based company, replacing interim chief executive and company co-founder Jerry Yang immediately, Yahoo announced Tuesday. Bartz To Face Difficult Yahoo Turnaround Path In hiring Bartz, 60, Yahoo ended two months of searching for a company head to succeed Yang, who announced in November 2008 that he would step down as chief executive and return to his previous role as chief Yahoo while remaining on the company's board of directors. Bartz, who was also named to serve on Yahoo's board of directors, was chief executive of San Rafael, California-based engineering design software maker Autodesk from 1992 to 2006, and is presently the firm's executive chairman. Prior to Autodesk Bartz held executive positions at technology firms Sun Microsystems, 3M and Digital Equipment Corp. During her time at Autodesk, which is presently about half the size of Yahoo with some 7,000 employees, Bartz oversaw a large increase in revenue as yearly totals rose from $350 million in the early 1990s to more than $1.5 billion by the time she left the chief executive spot in 2006. Yahoo share prices closed Tuesday at $12.10, down 0.98 percent or 12 cents, while after hours trading saw share prices rise by 1.82 percent to $12.33 shortly after closing time. With Addition Of Bartz, Sue Decker To Depart Yang faced criticism from a seemingly countless number of critics on numerous fronts since taking over the chief executive role previously held by Terry Semel in the summer of 2007, most notably for his decision to resist a takeover offer from Microsoft last year. When Semel stepped down as chief executive, Yahoo's board of  directors asked Yang to step in and fill the position, and during the tumultuous intervening period Yang had been at the helm while rival Microsoft attempted to acquire Yahoo. Last month Yang announced that Yahoo was cutting 1,500 employees from its workforce. Some industry analysts expect it likely that the hiring or Bartz will lead to another round of talks between Yahoo and Microsoft centered around a search advertising partnership. Among those Yahoo is reported to have considered for the chief executive position was Sue Decker, who in June 2008 moved from a chief financial officer post into the role of president at Yahoo. Decker announced Tuesday that she will resign from Yahoo after a transitional period of an unknown length. Yahoo Names Carol Bartz As Chief Executive Successor To Jerry Yang Yang praised the choice of Bartz as his replacement Tuesday. "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," Yang said in an announcement. "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. I believe Yahoo's best years are still ahead of it. For the past 14 years, I have poured all of my energies into this great company -- and I hope to keep contributing to its success for many years to come," Yang added. Bartz said that she looked forward to working to improve Yahoo. "Yahoo is a powerful global brand with a great collection of assets, strong technology, and enormously talented employees," Bartz said Tuesday.  "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," Bartz added. Yahoo chairman Roy Bostock said Bartz would help Yahoo grow. "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," Bostock said Tuesday. "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. The Board is united in its view that her energetic and decisive leadership style, coupled with a proven track record of driving growth, operational excellence and shareholder value, is exactly what Yahoo needs to get back on a path toward achieving its full potential," Bostock added Tuesday. Related Links :
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