Yahoo name new CEO
Yahoo has named Carol Bartz, current Chairperson of CAD software provider Autodesk, as its next Chief Executive.
Bartz will be tasked with transforming the fortunes of the beleaguered search giant, whose long-standing CEO Jerry Yang stepped down in November in the fallout of Microsoft’s failed takeover bid.
Although Bartz has built a reputation in Silicon Valley for her tough management style, having previously worked for companies including Sun Microsystems and 3M, reaction to the appointment has been mixed.
Speak to eWeek, IDC analyst Karsten Weide said that what Bartz lacks in technical search expertise, she makes up for with a no-nonsense management style.
“[Bartz] is not a media type, but that is not Yahoo’s major problem right now. Yahoo’s major problem right now is operational issues and she’s a strong executor. She is good at process and that’s what Yahoo needs right now. They need someone from the outside with a fresh view upon what’s going on at Yahoo who can clean up the mess, both organizationally, but also in terms of the product portfolio,” explained Weide.
It seems other analysts remain unconvinced; Yahoo stock fell 3.6 percent on the news of Bartz’s appointment, though later recovered to end the day down just 1 percent.
“I think the market may be a little bit disappointed that Yahoo’s not going with someone who isn’t a little bit more savvy when it comes to technology and media,” commented Signal Green analyst Todd Greenwald.
Many Yahoo investors will be hoping that Bartz can steady the ship and bring Microsoft back to the negotiating table. Under Jerry Yang’s leadership steadfastly rejected a takeover deal from Microsoft worth $47.5 billion, a position which drew anger from many shareholders.
Since Microsoft’s failed takeover, both Yahoo’s share of the search advertising market and stock value have plummeted, falling further behind Google and raising fears for the future of a company which was once the clear market leader.
Bartz said she is looking forward to the challenge and is ready to “dive deep” into Yahoo over the coming days.
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