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January 15, 2009

New Yahoo CEO Bartz to receive $1 million salary, 2M bonus, 5M shares

According to MarketWatch: “Newly-appointed Yahoo Inc. Chief Executive Carol Bartz has signed a four-year agreement with the company that will pay her an annual base salary of $1 million, according to a regulatory filing Thursday.

Bartz, who was appointed Tuesday to helm the embattled Internet company, will be able to see the salary raised based on annual reviews. She will also be eligible to receive an annual bonus with a target amount of 200% of her base salary, or $2 million.

Bartz, 60, will also receive stock options for 5,000,000 shares of Yahoo’s stock, with an exercise price expected to be dated Jan. 30.”

  • Former Yahoo CEO Terry Semel, who stepped down in June 2007, was given a base salary of $600,000 in 2006 but reduced it to $1 partly through that year as the Yahoo board tried to better link his pay to performance. That left him with an overall salary of $250,000 in 2006, according to WSJ

Update 1 (1-15-2009): Carol Bartz’s profile is still available at Autodesk website, including her color poster (1500 x 1858, TIFF image)

Update 2 (1-15-2009): Bartz has spoken with Microsoft CEO Steve Ballmer since assuming the top job at Yahoo, though she described the conversation as “informal” and did not go into detail, according to MarketWatch report

Update 3 (1-15-2009): According to WSJ: “Yahoo said her package includes a maximum annual bonus of $4 million and a 2009 equity grant valued at about $8 million, expected to be made in February. She also gets $10 million in cash and restricted shares to “make up” for equity grants and benefits that she had at Autodesk Inc., a software concern where she had previously been CEO.”

Autodesk cuts fourth-quarter forecast, 750 jobs

Filed under: software,US — DF @ 7:37 am
Tags: , ,

Autodesk Inc (NASDAQ: ADSK), the San Rafael, Calif.-based maker of design software company, announced plans to cut about 750 jobs, or about 10% of its workforce, as part of a restructuring plan that aims for annual pre-tax cost savings of about $130 million starting in fiscal 2010, according to Market Watch

“Autodesk was in the news earlier this week, as Carol Bartz, its former chief executive and executive chairman, was named to the post of chief executive at Yahoo Inc.”, according to Market Watch

January 13, 2009

Yahoo names Bartz new CEO

According to CNN Money: “Yahoo Inc. announced Tuesday that it had hired veteran technology executive Carol Bartz as its new CEO.”

“Bartz ran software company Autodesk (NASDAQ:ADSK) for 14 years, most recently serving as executive chairwoman. San Rafael, Calif.-based Autodesk, with just over 7,000 employees worldwide, is about half the size of Yahoo.”

“Bartz is taking over an embattled Yahoo. In mid-November, co-founder Jerry Yang stepped down after failed attempts to improve the company’s performance.”

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