Yahoo has appointed former Autodesk chief Carol Bartz
tosucceed Jerry Yang as the internet company's chief
executive officer.
The appointment ends almost two months' speculation on who would
get the top job at Yahoo to help the company recover from huge
losses in value.
Yang stepped down as CEO in November 2008 to take a back seat
role on the board in the face of shareholder criticism for
rejecting a Microsoft buyout offer.
Yahoo has suffered a $30m loss in value since Yang rejected the
offer at $33 a share, or $47.5bn, in February 2008.
The announcement of the appointment did not immediately boost
share prices, indicating that investors may be waiting to hear what
Bartz plans to do to revive the business.
Another key indicator to investors will be whether or not Bartz
is able to clinch a
deal with Microsoft for Yahoo's search business.
Microsoft CEO Steve Ballmer has indicated in recent months that
although a full buyout deal is unlikely, he would still be
willing to discuss a search deal.
Ballmer is seeking ways to bolster Microsoft's position against
its main search rival, Google.