Yahoo announced that Carol Bartz has accepted offer to become next CEO of the company.
The move marks the end of the 2-month search for the new Executive to replace current CEO and co-founder Jerry Yang.
Bartz, 60, will also become a member of the Yahoo board of directors. She was previously Chairman of Autodesk. Prior to this, she ran the company as CEO for 14 years until 2006. She was the only person offered the job, Yahoo said in a statement.
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! said Roy Bostock, Chairman of Yahoo.
Bartz addressed the company's current difficulties.
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, she said.
Yang previously said he would step aside as soon as a new leader for the company was found, stating that he accepted the job of leading the company at a time when rethinking and restructuring was needed.
I believe Carol is the ideal person to take Yahoo! forward and I will be honored to be a resource to assist her in any way she finds helpful, Yang said.
Yahoo President Sue Decker announced that she will resign from Yahoo after a transitional period in a decision to move on to other challenges, the company said.