Former Autodesk CEO Carol Bartz takes over the CEO position at Yahoo!. Founder Jerry Yang is back at his Chief Yahoo role.
Prior to becoming Executive Chairman of Autodesk in 2006, Bartz, 60, led Autodesk as CEO for 14 years, transforming the company into a leader in computer-aided design software. 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.
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."
Jerry Yang said, "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. 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."
Yahoo! also announced that President Sue Decker has informed the Board that she will resign after remaining with the Company for a transitional period. Bostock said, "The Board thanks Sue for her service as President, the important contributions she has made to Yahoo!'s development in a variety of roles over the past 8-1/2 years, and her willingness to work with Carol Bartz to ensure a smooth transition. We respect her decision to move on to other challenges and wish her only the best."
It will be interesting where Yahoo! is going now. I was actually surprised that Yahoo! managed to make some advance into Internet services for TV makers with their Yahoo! TV Widgets at the CES 2009. Maybe Yahoo! has still a future without Microsoft.
Via this Yahoo! announcement.
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