Carol Bartz
Encyclopedia
Carol Ann Bartz is an American business executive, the former president and CEO of the Internet services company Yahoo!
, and former chairman, president, and CEO at architectural and engineering design software
company Autodesk
.
. Her mother, Shirley Bartz, died when Carol was eight years old. A few years later, she and her younger brother Jim moved from Minnesota to the home of their grandmother, Alice Schwartz, on a dairy farm near Alma, Wisconsin
. In high school, Bartz did well in mathematics
, and was also homecoming queen. She began college at William Woods University
in Fulton, Missouri, and subsequently transferred to the University of Wisconsin–Madison
where she received a bachelor's degree in computer science
in 1971. While in college, she supported herself as a cocktail waitress
. Carol Bartz also has two half brothers and two half sisters all living in Wisconsin and Minnesota.
Bartz was also awarded an Honorary Doctorate of Humane Letters degree (2002) from New Jersey Institute of Technology
, an Honorary Doctor of Science degree from Worcester Polytechnic Institute
and an honorary Doctor of Letters degree from William Woods University
.
, but left after her request to transfer to the headquarters was denied; she was told that "women don't do these jobs". Bartz moved on to the computer industry, including jobs at Digital Equipment Corporation
and Sun Microsystems
.
in 1992. According to Forbes
, Bartz "transformed Autodesk from an aimless maker of PC software into a leader of computer-aided design software, targeting architects and builders." She is credited with instituting and promoting Autodesk's "3F" or "fail fast-forward" concept – the idea of moulding a company to risk failure in some missions, but to be resilient and move on quickly when failure occurs. She stepped down as CEO in 2006 and became the executive chairman of the board. Autodesk net revenue substantially increased during her tenure.
Bartz served on several boards of directors, including those of Intel, Cisco Systems
, Autodesk, BEA Systems
, Network Appliance
, and the Foundation for the National Medals of Science
. Additionally, she has been a member of the United States President's Council of Advisors on Science and Technology.
, the internet services company which operates the fourth most-visited Web domain name in the world, succeeding co-founder Jerry Yang. During a conference call with financial analyst
s 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 of Business 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."
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." Analysts described her efforts as precisely what the company required, but, as reporter Alexei Oreskovic observed:
With a new round of job layoffs and the removal of a number of Yahoo! sites, "anxiety within the ranks has been exacerbated by what some say is a growing sense of secrecy", for which Bartz has a notable reputation: "The informal flow of information once common within the company has come to a halt." Bartz was also quoted to have said that she would "drop-kick to fucking Mars" employees who leak to the press. 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."
At her one year mark at Yahoo in January 2010, Bartz gave herself a "B-" grade for the job done in 2009: "It was a little tougher internally than I think I had anticipated. I did move fast, but this is a big job." Others in the media, however, rated her job higher given the challenges she had to manage.
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). In 2010 Bartz was named “most overpaid” CEO by proxy voting firm Glass-Lewis when she received $47.2 million in compensation.
On September 6, 2011, Bartz was removed from her position at Yahoo! (via phone call), and CFO Tim Morse
was named as Interim CEO of the company. Bartz expressed her desire to remain on the Board of Directors. However, on September 9, 2011, Bartz resigned from the company's Board of Directors.
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."
. Arrington started the interview by asking Bartz, "So how the fuck are you?" To which she responded, "Is that appropriate?". Later in the interview, Bartz became perturbed with Arrington's criticism of the Yahoo!
business model of conglomeration rather than single revenue source producers. Bartz then responded to Arrington saying, "you are involved in a very tiny company" and ended the exchange by telling him to "fuck off." Bartz received some support from bloggers for her response, including Guy Kawasaki
who stated, "I respect Carol Bartz even more now."
Yahoo!
Yahoo! Inc. is an American multinational internet corporation headquartered in Sunnyvale, California, United States. The company is perhaps best known for its web portal, search engine , Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Groups, Yahoo! Answers, advertising, online mapping ,...
, and former chairman, president, and CEO at architectural and engineering design software
Computer-aided design
Computer-aided design , also known as computer-aided design and drafting , is the use of computer technology for the process of design and design-documentation. Computer Aided Drafting describes the process of drafting with a computer...
company Autodesk
Autodesk
Autodesk, Inc. is an American multinational corporation that focuses on 3D design software for use in the architecture, engineering, construction, manufacturing, media and entertainment industries. The company was founded in 1982 by John Walker, a coauthor of the first versions of the company's...
.
Early life and education
Bartz was born in Winona, MinnesotaWinona, Minnesota
Winona is a city in and the county seat of Winona County, in the U.S. State of Minnesota. Located in picturesque bluff country on the Mississippi River, its most noticeable physical landmark is Sugar Loaf....
. Her mother, Shirley Bartz, died when Carol was eight years old. A few years later, she and her younger brother Jim moved from Minnesota to the home of their grandmother, Alice Schwartz, on a dairy farm near Alma, Wisconsin
Alma, Wisconsin
Alma is a city in and the county seat of Buffalo County in the U.S. state of Wisconsin. The population was 942 at the 2000 census. The city is surrounded by the Town of Alma. The motto for the city of Alma is: "Step into Living History."-Geography:...
. In high school, Bartz did well in mathematics
Mathematics
Mathematics is the study of quantity, space, structure, and change. Mathematicians seek out patterns and formulate new conjectures. Mathematicians resolve the truth or falsity of conjectures by mathematical proofs, which are arguments sufficient to convince other mathematicians of their validity...
, and was also homecoming queen. She began college at William Woods University
William Woods University
William Woods University is a coeducational, independent, private university of 3,800 students, representing most states and approximately 20 foreign countries. The university offers undergraduate and graduate degrees in a variety of disciplines in both campus and outreach settings. WWU is situated...
in Fulton, Missouri, and subsequently transferred to the University of Wisconsin–Madison
University of Wisconsin–Madison
The University of Wisconsin–Madison is a public research university located in Madison, Wisconsin, United States. Founded in 1848, UW–Madison is the flagship campus of the University of Wisconsin System. It became a land-grant institution in 1866...
where she received a bachelor's degree in computer science
Computer science
Computer science or computing science is the study of the theoretical foundations of information and computation and of practical techniques for their implementation and application in computer systems...
in 1971. While in college, she supported herself as a cocktail waitress
Cocktail waitress
A cocktail waitress is a type of server who specializes in bringing drinks to patrons of bars, casinos, comedy clubs, live music venues and other drinking establishments and often wears revealing clothing in order to get more tips...
. Carol Bartz also has two half brothers and two half sisters all living in Wisconsin and Minnesota.
Bartz was also awarded an Honorary Doctorate of Humane Letters degree (2002) from New Jersey Institute of Technology
New Jersey Institute of Technology
New Jersey Institute of Technology is a public research university in Newark, New Jersey. It is often also referred to as Newark College of Engineering ....
, an Honorary Doctor of Science degree from Worcester Polytechnic Institute
Worcester Polytechnic Institute
Worcester Polytechnic Institute is a private university located in Worcester, Massachusetts, in the United States.Founded in 1865 in Worcester, WPI was one of the United States' first engineering and technology universities...
and an honorary Doctor of Letters degree from William Woods University
William Woods University
William Woods University is a coeducational, independent, private university of 3,800 students, representing most states and approximately 20 foreign countries. The university offers undergraduate and graduate degrees in a variety of disciplines in both campus and outreach settings. WWU is situated...
.
Career
In 1976, Bartz went to work at the manufacturing conglomerate 3M3M
3M Company , formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation based in Maplewood, Minnesota, United States....
, but left after her request to transfer to the headquarters was denied; she was told that "women don't do these jobs". Bartz moved on to the computer industry, including jobs at Digital Equipment Corporation
Digital Equipment Corporation
Digital Equipment Corporation was a major American company in the computer industry and a leading vendor of computer systems, software and peripherals from the 1960s to the 1990s...
and Sun Microsystems
Sun Microsystems
Sun Microsystems, Inc. was a company that sold :computers, computer components, :computer software, and :information technology services. Sun was founded on February 24, 1982...
.
CEO of Autodesk
She became CEO of AutodeskAutodesk
Autodesk, Inc. is an American multinational corporation that focuses on 3D design software for use in the architecture, engineering, construction, manufacturing, media and entertainment industries. The company was founded in 1982 by John Walker, a coauthor of the first versions of the company's...
in 1992. According to Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
, Bartz "transformed Autodesk from an aimless maker of PC software into a leader of computer-aided design software, targeting architects and builders." She is credited with instituting and promoting Autodesk's "3F" or "fail fast-forward" concept – the idea of moulding a company to risk failure in some missions, but to be resilient and move on quickly when failure occurs. She stepped down as CEO in 2006 and became the executive chairman of the board. Autodesk net revenue substantially increased during her tenure.
Bartz served on several boards of directors, including those of Intel, Cisco Systems
Cisco Systems
Cisco Systems, Inc. is an American multinational corporation headquartered in San Jose, California, United States, that designs and sells consumer electronics, networking, voice, and communications technology and services. Cisco has more than 70,000 employees and annual revenue of US$...
, Autodesk, BEA Systems
BEA Systems
BEA Systems, Inc. specialized in enterprise infrastructure software products known as "middleware", which connect software applications to databases and was acquired by Oracle Corporation on April 29, 2008.- History :...
, Network Appliance
Network Appliance
NetApp, Inc. , formerly Network Appliance, Inc., is a proprietary computer storage and data management company headquartered in Sunnyvale, California. It is a member of the NASDAQ-100 and is also Fortune magazine's fifth best place to work...
, and the Foundation for the National Medals of Science
National Medal of Science
The National Medal of Science is an honor bestowed by the President of the United States to individuals in science and engineering who have made important contributions to the advancement of knowledge in the fields of behavioral and social sciences, biology, chemistry, engineering, mathematics and...
. Additionally, she has been a member of the United States President's Council of Advisors on Science and Technology.
CEO of Yahoo!
On January 13, 2009, Bartz was named CEO of Yahoo!Yahoo!
Yahoo! Inc. is an American multinational internet corporation headquartered in Sunnyvale, California, United States. The company is perhaps best known for its web portal, search engine , Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Groups, Yahoo! Answers, advertising, online mapping ,...
, the internet services company which operates the fourth most-visited Web domain name in the world, succeeding co-founder Jerry Yang. During a conference call with financial analyst
Financial analyst
A financial analyst, securities analyst, research analyst, equity analyst, or investment analyst is a person who performs financial analysis for external or internal clients as a core part of the job.-Job:...
s 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 of Business 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."
In May 2009, Reuters
Reuters
Reuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provider of financial market data...
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." Analysts described her efforts as precisely what the company required, but, as reporter Alexei Oreskovic observed:
For Yahoo's (YHOO.O) 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.
With a new round of job layoffs and the removal of a number of Yahoo! sites, "anxiety within the ranks has been exacerbated by what some say is a growing sense of secrecy", for which Bartz has a notable reputation: "The informal flow of information once common within the company has come to a halt." Bartz was also quoted to have said that she would "drop-kick to fucking Mars" employees who leak to the press. 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."
At her one year mark at Yahoo in January 2010, Bartz gave herself a "B-" grade for the job done in 2009: "It was a little tougher internally than I think I had anticipated. I did move fast, but this is a big job." Others in the media, however, rated her job higher given the challenges she had to manage.
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). In 2010 Bartz was named “most overpaid” CEO by proxy voting firm Glass-Lewis when she received $47.2 million in compensation.
On September 6, 2011, Bartz was removed from her position at Yahoo! (via phone call), and CFO Tim Morse
Tim Morse
Timothy R. Morse is the interim CEO of the Internet services company, Yahoo!. He was named after Carol Bartz lost her position as CEO on Sept 6, 2011...
was named as Interim CEO of the company. Bartz expressed her desire to remain on the Board of Directors. However, on September 9, 2011, Bartz resigned from the company's Board of Directors.
Personal life
Bartz is a survivor of breast cancer. She is married to Bill Marr, a former executive at Data General and Sun Microsystems. They have three children: Bill, Meredith, and Layne. Her hobbies include golf, tennis, and gardening.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."
Arrington confrontation
In May 2010, Bartz was involved in a verbal confrontation with internet tech blogger Michael ArringtonMichael Arrington
J. Michael Arrington is the founder and former co-editor of TechCrunch, a blog covering the Silicon Valley technology start-up communities and the wider technology field in USA and elsewhere...
. Arrington started the interview by asking Bartz, "So how the fuck are you?" To which she responded, "Is that appropriate?". Later in the interview, Bartz became perturbed with Arrington's criticism of the Yahoo!
Yahoo!
Yahoo! Inc. is an American multinational internet corporation headquartered in Sunnyvale, California, United States. The company is perhaps best known for its web portal, search engine , Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Groups, Yahoo! Answers, advertising, online mapping ,...
business model of conglomeration rather than single revenue source producers. Bartz then responded to Arrington saying, "you are involved in a very tiny company" and ended the exchange by telling him to "fuck off." Bartz received some support from bloggers for her response, including Guy Kawasaki
Guy Kawasaki
Guy Kawasaki is a Silicon Valley venture capitalist, bestselling author, and Apple Fellow. He was one of the Apple employees originally responsible for marketing the Macintosh in 1984. He is currently a Managing Director of Garage Technology Ventures, and has been involved in the rumor reporting...
who stated, "I respect Carol Bartz even more now."