Silicon Valley Vet New Yahoo CEO
Updated 11:42 AM PST, Wed, Jan 14, 2009
Yahoo is poised to name Silicon Valley veteran Carol Bartz as its new chief executive, according to The Wall Street Journal.
The newspaper's Web site cited undisclosed people familiar with the situation Tuesday.
The appointment would end Yahoo's nearly two-month search for a leader to replace co-founder Jerry Yang, who infuriated the Internet company's shareholders by turning down a $47.5 billion takeover offer from Microsoft last May.
“We are very excited to have Carol Bartz leading Yahoo! into its next era of growth," said Roy Bostock, Chairman of the Board. 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!.
The 60-year-old Bartz was CEO of business software maker Autodesk for 14 years before stepping aside to become the company's executive chairman in 2006.
She was a top executive at Sun Microsystems before joining Autodesk. She also worked at Sun Microsystems and 3M.
“Yahoo! is a powerful global brand with a great collection of assets, strong technology, and enormously talented employees," Bartz said. "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.”
Bostock thanked Jerry Yang for his work at the company on Thursday.
“On behalf of the entire Board, I would like to thank Jerry Yang for acceding to our request 18 months ago to step into the CEO role. Jerry’s unwavering enthusiasm for Yahoo!, his unique perspective on the company, and iconic stature in the industry make him an invaluable resource for the future. We are delighted that he plans to stay actively involved and are deeply grateful for his many contributions to the company’s development over the years.”
Copyright Associated Press
First Published: Jan 13, 2009 11:21 AM PST
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