Jan 14, 2009

Business - Troubled Yahoo names Bartz new CEO

San Francisco, Jan 14 (DPA) Struggling web pioneer Yahoo has named Carol Bartz, the former head of software company Autodesk, as its new chief executive.

The appointment follows a two-month search for a replacement for company founder Jerry Yang, who was widely blamed for botching merger talks with Microsoft that would have proved highly lucrative to many shareholders.

While Bartz, 60, does not have wide experience running a consumer-facing technology company, she does sit on the boards of major tech firms like Cisco and Intel. She served as chief executive of Autodesk from 1992-2006 and remains the company's executive chairman, and held executive positions at Sun Microsystems, Digital and 3M.

'We are very excited to have Carol Bartz leading Yahoo into its next era of growth,' Yahoo Chairman Roy Bostock saidon Tuesday. '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.'

'Yahoo is a powerful global brand with a great collection of assets, strong technology, and enormously talented employees,' said Bartz. '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.'

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