Internet giant Yahoo has recently introduced Carol Bartz as its new CEO, replacing co-founder Jerry Yang after viable contract deals with Google and Microsoft collapsed.
Bartz, 60, is a technology expert who was the former CEO of software giant Autodesk Inc. In 1992, the company was experiencing a huge problem when shareholders were protesting because of the lack of product variety. In a landmark event, Bartz decided to offer more software and computer programs to expand its market.
In a conference meeting, Bartz told reporters and analysts that she will do her best to boost Yahoo’s operation, making sure that the company will emerge as a strong key player in the Internet business.
Bartz also said that there is a huge opportunity for Yahoo to grow and expand, adding that she would not take the position if she thinks the company has no viable future.
Investors seemed to welcome Bartz’s appointment as the company’s share increased to 4 percent to 47 cents, closing at $12.10 per share on Tuesday.
Bartz is now facing a challenging task of turning around Yahoo’s 3-year slump due to low advertising deal and revenue. One huge concern is the weakening Internet search operation that is under threat by Google.
According to a source, Yahoo’s decision to appoint an outsider vexed some high ranking officials including Yahoo president Susan Decker who was also a candidate vying for the CEO position. With this turn of event, Decker announced she will resign from the company.
Former Autodesk manager Nilofer Merchant expressed his belief that Bartz is the best candidate for CEO because “she is highly driven and will do the best thing” for Yahoo.
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