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Having recently stepped into the breach at Yahoo Inc. as departing CEO Jerry Yang was busy packing his desk, Carol Bartz is now looking to revitalise the Internet giant’s sagging fortunes via a significant boardroom shuffle.
Executive shake-up on the way as Bartz looks to get Yahoo back on track. Image: Yahoo Inc.
Yahoo’s round of executive musical chairs is expected to hit as early as next week, reports the San Francisco Chronicle, and is aimed at significantly increasing the speed of boardroom decision making and stimulating market growth for the online pioneer.
While reports from sources situated close to Yahoo’s upper echelons suggest that an employment cull is not on Bartz’s agenda, the 60-year-old CEO and former head of Autodesk is expected to replace a number of existing executives with her own selections.
This latest Yahoo shake-up arrives in the wake of Microsoft Corp.’s abandoned takeover attempt, which saw then Yahoo CEO Jerry Yang vehemently refusing a sizeable bid of $47.5 billion USD for the Internet outfit.
Since Microsoft admitted defeat and shelved its bid in 2008, Yahoo has since removed Yang from the helm as its share prices plummeted well below Microsoft’s evaluation. It has also shouldered the burden of several big-name executive departures prior to bringing in Bartz to put the ailing ship back on course.
In the brief time she has been in the position (mid-January), Bartz has already gut-punched Yang and other departing Yahoo executives by saying the company is “one with enormous assets that frankly could use a little management.”
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