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| Yahoo names new chief executive | Yahoo names new chief executive |
| (about 1 hour later) | |
| Yahoo has named Silicon Valley veteran Carol Bartz as its new chief executive. | Yahoo has named Silicon Valley veteran Carol Bartz as its new chief executive. |
| Ms Bartz, 60, is a well-respected industry figure who led business software maker Autodesk for 14 years before becoming its chairman in 2006. | Ms Bartz, 60, is a well-respected industry figure who led business software maker Autodesk for 14 years before becoming its chairman in 2006. |
| Her appointment follows an search for a replacement for the internet portal's co-founder Jerry Yang. | Her appointment follows an search for a replacement for the internet portal's co-founder Jerry Yang. |
| His departure followed lengthy criticism of his stewardship of the company, which has coincided with its share price collapsing to about $12. | His departure followed lengthy criticism of his stewardship of the company, which has coincided with its share price collapsing to about $12. |
| He angered investors by turning down a $47.5bn takeover offer from Microsoft last May - worth $33 a share. | He angered investors by turning down a $47.5bn takeover offer from Microsoft last May - worth $33 a share. |
| Microsoft did however come back and offer to buy the search part of Yahoo, but a deal was never struck. | Microsoft did however come back and offer to buy the search part of Yahoo, but a deal was never struck. |
| YAHOO FACTS Founded in 1995, is based in Sunnyvale, California, Is the world's second most popular internet search engine - but trails far behind market leader GoogleCurrently employs about 15,000 staff href="/1/hi/technology/7827546.stm">Carol Bartz: 'the safe pick' class="" href="http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/4/23096/twelve_month.stm">See Yahoo shares over past year | |
| Many observers expect that this deal will eventually go through, with a new chief executive at the Yahoo helm. | Many observers expect that this deal will eventually go through, with a new chief executive at the Yahoo helm. |
| 'Driven' | 'Driven' |
| Before joining Autodesk, Ms Bartz spent nine years at Sun Microsystems, rising to become the second most senior executive behind the then-CEO, Scott McNealy. | Before joining Autodesk, Ms Bartz spent nine years at Sun Microsystems, rising to become the second most senior executive behind the then-CEO, Scott McNealy. |
| She has been named in Fortune magazine's list of the 50 Most Powerful Women in Business and featured on Barron's list of the World's 30 Most Respected CEOs. | She has been named in Fortune magazine's list of the 50 Most Powerful Women in Business and featured on Barron's list of the World's 30 Most Respected CEOs. |
| And observers say that her track record suggest that she was likely to build on Yahoo's strengths. | And observers say that her track record suggest that she was likely to build on Yahoo's strengths. |
| "She is able to see the essence of things because she doesn't spend a lot of time worrying about how people are going to feel," said Nilofer Merchant, a former Autodesk manager, now chief executive of technology consultant Rubicon. | "She is able to see the essence of things because she doesn't spend a lot of time worrying about how people are going to feel," said Nilofer Merchant, a former Autodesk manager, now chief executive of technology consultant Rubicon. |
| "She is driven by doing the best thing for the business." | "She is driven by doing the best thing for the business." |
| During Bartz's leadership, Autodesk's share price rose by an annual average of nearly 20% - something which analysts say will hearten Yahoo investors who have seen the value of shares slide dramatically. | During Bartz's leadership, Autodesk's share price rose by an annual average of nearly 20% - something which analysts say will hearten Yahoo investors who have seen the value of shares slide dramatically. |
| Scrutiny | Scrutiny |
| In November last year, Mr Yang surprised the industry when he said that Microsoft should still buy Yahoo. | In November last year, Mr Yang surprised the industry when he said that Microsoft should still buy Yahoo. |
| "I don't think it's a bad idea at all, at the right price whatever that price is. We're willing to sell the company," he told the Web 2.0 Summit in San Francisco. | "I don't think it's a bad idea at all, at the right price whatever that price is. We're willing to sell the company," he told the Web 2.0 Summit in San Francisco. |
| The declaration came hours after Google had pulled out of an internet advertising deal with Yahoo amid increasing scrutiny from the US Department of Justice. | The declaration came hours after Google had pulled out of an internet advertising deal with Yahoo amid increasing scrutiny from the US Department of Justice. |