American software manager Carol Bartz will be the new CEO of internet giant Yahoo.
The appointment of Bartz brings to an end the two-month search for a successor to Yang. Internet pioneer and co-founder of Yahoo, Yang gave up his CEO position after potentially lucrative deals nearing 50 million dollars with Microsort Corp. collapsed.
“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.”
The Yahoo chairman, Roy Bostock, said that Bartz combined the right mix of technology experience, leadership and respect in the financial markets.
“She is the exact combination of seasoned technology executive and savvy leader that the board was looking for,” Bostock said. “She is admired in the [Silicon] Valley as well as on Wall Street for her deep management expertise, strong customer orientation, excellent people skills and firm understanding of the challenges facing our industry.”