Moneymen 'Ho-Hum' Over Yahoo's New Ceo Appointment

14 January 2009

NEW YORK: Those wonderful folk who brought you the credit crunch and global recession are not wildly enthusiastic at the appointment of software veteran Carol Bartz (pictured) as Yahoo's new chief executive.

Or as the Financial Times put it, Wall Street regards the appointment of the 60-year old as "safe but unspectacular".

Formerly the executive chairwoman of software design giant Autodesk, Bartz occupies the Yahoo hotseat with immediate effect – a move that appears to have triggered the imminent departure of Yahoo president Sue Decker, herself a candidate for the top job.

A Yahoo statement revealed that Decker will depart after a short transitional period to "pursue other challenges".

Meantime, Bartz will lead Yahoo into its next era of growth, according to company chairman Roy Bostock in eulogistic overdrive: "She is the exact combination of seasoned technology executive and savvy leader that the board was looking for," he hosannaed.

"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.”

But the the arbiters of fiscal rectitude skulking in the canyons of Lower Manhattan were ho-hum to say the least. News of Bartz'  appointment sent Yahoo shares 1% lower by the close in New York.

Data sourced from Financial Times; additional content by WARC staff