Carol Bartz | |
|---|---|
 Bartz at her first Yahoo! all hands meeting (2009) | |
| Born | Carol Ann Bartz (1948-08-28)August 28, 1948 (age 77) Winona, Minnesota, U.S. |
| Alma mater | William Woods University University of Wisconsin–Madison |
| Known for | Former CEO ofYahoo!(2009-2011) |
Carol Ann Bartz (born August 28, 1948)[1][2][3] is an American business executive, former president andCEO of the internet services companyYahoo!, and former chairman, president, and CEO at architectural and engineeringdesign software companyAutodesk.
Bartz was born inWinona, Minnesota, the daughter of Shirley Ann (née Giese) and Virgil Julius Bartz. Her mother died when Carol was eight years old. A few years later, she and her younger brother, Jim, moved from Minnesota across theMississippi River to the home of their grandmother, Alice, on adairy farm nearAlma, Wisconsin.[4][5] In high school, Bartz did well inmathematics, and was alsohomecoming queen. She began college atWilliam Woods University in Fulton, Missouri, and subsequently transferred to theUniversity of Wisconsin–Madison where she received a bachelor's degree incomputer science in 1971. While in college, she supported herself as acocktail waitress.[6]
Bartz was also awarded an HonoraryDoctorate of Humane Letters degree (2002) fromNew Jersey Institute of Technology, an HonoraryDoctor of Science degree fromWorcester Polytechnic Institute and an honoraryDoctor of Letters degree fromWilliam Woods University.[7]
In 1976, Bartz went to work at the manufacturing conglomerate3M, but left after her request to transfer to the headquarters was denied. Bartz moved on to the computer industry, including jobs atDigital Equipment Corporation andSun Microsystems.[4][8]
She became CEO ofAutodesk in 1992. According toForbes, Bartz "transformed Autodesk from an aimless maker of PC software into a leader of computer-aided design software, targeting architects and builders."[9] She is credited with instituting and promoting Autodesk's "3F" or "fail fast-forward" concept, also referred to asfail fast – the idea of moulding a company to risk failure in some missions, but to be resilient and move on quickly when failure occurs.[10] She stepped down as CEO in 2006, and became the executive chairman of the board.[11]
During her 14-year tenure as the company's CEO, Autodesk net revenue substantially increased, and annual revenue rose from $300 million to $1.5 billion, with the stock price rising an average of 20 percent annually.[12]
Bartz served on several boards of directors, including those ofIntel,Cisco Systems, Autodesk,BEA Systems,Network Appliance, and theFoundation for the National Medals of Science.[13][14] Additionally, she has been a member of theUnited States President's Council of Advisors on Science and Technology.[14]
On January 13, 2009, Bartz was named CEO ofYahoo!, the Internet services company which operated the fourth most-visited Web domain name in the world,[15] succeeding co-founderJerry Yang.[10] During a conference call withfinancial analysts later in January 2009, she announced her intention to make sure Yahoo! got "some friggin' breathing room" so the company could "kick some butt." Rob Hof ofBusiness Week was skeptical that Bartz or anyone else could save the company: "... it's not yet clear if Bartz can turn Yahoo around no matter how good she may be."[16]
In May 2009,Reuters reported that she had already "worked through an impressive checklist" at her new company, "upending the organizational structure, replacing executives and cutting costs, including 675 jobs, or 5 percent of the workforce."[17] Analysts described her efforts as precisely what the company required; reporter Alexei Oreskovic observed:
For Yahoo's ranks, still shell-shocked from deep cuts in 2008 – including 1,600 axed jobs – the hope that Bartz brings is increasingly mixed with a dose of fear and uncertainty. Yet broad support remains for Bartz despite the tough talk, canceled holiday parties and forced vacations that have come to define her era.[17]
Staff became anxious over a fresh round of job layoffs and the removal of a number of Yahoo! sites. The situation was then "exacerbated by a growing sense of secrecy", for which Bartz has a notable reputation. Aneed to know agenda replaced the company's typically open internal access to information.[17] Bartz was quoted as saying that she would "drop-kick to fucking Mars" employees who leak to the press.[18] Oreskovic quoted a fearful anonymous insider: "We are all sort of wanting to believe in her because we really want to see Yahoo! turned around, but it still doesn't make it any less scary when you don't hear about what's coming up. Everything is on a need-to-know basis."[17]
When Bartz was hired by Yahoo in early 2009, she was paid an annual base salary of $1 million. She was eligible for an annual 400% bonus and received 5,000,000 shares in addition to an equity grant of $18 million of stock (to compensate for the forfeiture of the value of equity grants and post-employment medical coverage from her previous employer).[19] In 2010 Bartz was named "most overpaid" CEO by proxy voting firm Glass-Lewis when she received $47.2 million in compensation.[20]
On September 6, 2011, Bartz was removed from her position at Yahoo! (via phone call by Yahoo ChairmanRoy Bostock), and CFOTim Morse was named as Interim CEO of the company.[21] Bartz notes that Roy was physically 20 minutes away from her when she was fired, noting that "he didn't have the nerve to see [her] face to face" and later stated that the board "fucked me over".[22] Bartz expressed her desire to remain on the Board of Directors.[23][24] However, on September 9, 2011, Bartz resigned from the company's Board of Directors.[25]
Bartz has been a member of eight public company boards in the last 20 years. As of February 2018, she sits on the board ofPlanGrid[26][27] andCisco.[28] In December 2017, she was reported to own over fifty-two thousand Cisco shares, worth approximately $1.6 million.[29]
Bartz is an investor in Caliva, a cannabis-based business.[30]
Bartz received theErnst & Young Entrepreneur Of The Year Award in 2001,[31] which spans more than 140 cities and 50 countries worldwide. In 2005, she was included inForbes Magazine's List of The World's 100 Most Powerful Women,[32] and remained appearing in the list for six consecutive years.[33]
Bartz is a survivor of breast cancer.[8] She is married to Bill Marr, a former executive atData General and Sun Microsystems.[5] They have three children: Bill, Meredith, and Layne. Her hobbies include golf, tennis, and gardening.[34]
On balancing a career with family, Bartz says: "I have a belief that life isn't about balance, because balance is perfection ... Rather, it's about catching the ball before it hits the floor."[35]
| Business positions | ||
|---|---|---|
| Preceded by | Chief Executive Officer ofYahoo! 2009–2011 | Succeeded by |
| International | |
|---|---|
| National | |
