Yahoo! names Carol Bartz as new chief

Yahoo has confirmed the appointment of Carol Bartz as its new chief executive and has also announced that its president, Susan Decker, will be stepping down after almost nine years with the company.

Former Autodesk boss Bartz has been given a seat on the Yahoo! board, and is set to take up her new position at the struggling internet firm immediately, according to reports.

Bartz said: “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.”

Speaking about Bartz’s appointment, Yahoo!’s chairman Roy Bostock said: “She is the exact combination of seasoned technology executive and savvy leader that the board was looking for.

“She is admired in the [Silicon] 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,” he added.

At the same time, Bostock confirmed that the leading internal candidate for the role, Susan Decker, would be leaving the company after a “transitional period”.

Bartz’s appointment ends Yahoo!’s two-month hunt for a replacement for Jerry Yang, who left the company following mounting pressure after he failed to strike a deal with Microsoft (see Yahoo! boss Jerry Yang steps down).

Many Yahoo! investors had publicly questioned Yang’s capability in the role, particularly after Microsoft’s failed $44 billion takeover bid and Google’s decision to terminate a possible advertising partnership with the company (see Google terminates Yahoo! ad deal).

The Yahoo! board has continued to look at a number of strategic options, including a potential deal with Time Warner’s AOL operation, in which Google holds a 10% stake.

The internet company’s share price closed at $2.10 yesterday.

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