Yahoo Inc. has appointed Carol Bartz as its new chief executive officer.The 60-year-old Bartz was earlier the CEO of software maker Autodesk Inc.
Yahoo!'s fired chief executive officer Carol Bartz blasted the online media company's board of directors in a no-holds-barred interview with Fortune magazine, calling the people who fired her 'doofuses'.
Now, with her departure, the company's future is once again being questioned. "Yahoo! was earlier directionless. Now it's headless," says Mahesh Murthy, founder and chief executive, Pinstorm.
It named chief financial officer Tim Morse as interim chief executive.
The 60-year-old technology veteran has replaced the Internet major's founder and chief executive Jerry Yang. Bartz would get a base salary of $1 million and a grant of $10 million in cash and stock to compensate the benefits forfeited from the previous employer. Further, she would be paid an annual grant worth about $8 million.
According to reports, private-equity firms such as Silver Lake Partners are considering bidding for Yahoo.
A Wall Street Journal report quoted a Yahoo insider as saying that 'Yahoo is open to selling itself to the right bidder'.
According to the US Securities and Exchange Commission, Bartz received a base salary of $969,872 last year and also got a performance-related bonus valued at $1.5 million. In addition, she received $42.1 million in the form of stock and stock options and other compensation of $2.61 million, thus, taking the total pay package to $47.22 million, the filing added.
Yahoo Inc has named Scott Thompson, who runs eBay's online payment unit PayPal, as its new CEO.
"The UID project involves huge database. We at Yahoo have expertise in handling such huge amount of data. We met the PM today morning and discussed, among other things, how Yahoo can help the government in the project."
The campaign will kick off in the US on September 28, move to the UK and India on October 5. The big budget brand building exercise will begin in other markets like Brazil, Canada, France, Hong Kong, Indonesia, Korea, and Taiwan in 2010.
Yahoo!'s current CFO, Blake Jorgensen announced his plans to leave the firm in February, just weeks after Carol Bartz took over the reins of the internet entity. Morse would be paid a salary of $500,000 and a 'sign-on bonus' of $500,000, according to Yahoo!'s regulatory filing with the Securities and Exchange Commission.
There are 21 chief executives no older than 40 who run US public companies worth at least $500 million. Here's who they are.
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