Carol Bartz

Carol Bartz
Born	Carol Ann Bartz (1948-08-28) August 28, 1948 Winona, Minnesota, U.S.
Occupation	Business executive
Years active	1976–present
Known for	CEO of Yahoo!, CEO of Autodesk

Carol Ann Bartz (born August 28, 1948) is an American corporate leader who has held prominent executive roles, including CEO of the internet services firm Yahoo! and chairman, president, and CEO of the architectural and engineering design software company Autodesk.

Early life and education

Born in Winona, Minnesota to Shirley Ann (née Giese) and Virgil Julius Bartz, Bartz experienced the loss of her mother at age eight. Subsequently, she and her brother relocated to their grandmother’s dairy farm near Alma, Wisconsin. Demonstrating strong aptitude in mathematics and leadership during high school, she initially enrolled at William Woods University before transferring to the University of Wisconsin–Madison, where she completed a bachelor's degree in computer science in 1971. Throughout her college years, Bartz supported herself by working as a cocktail waitress. Additionally, she has two half brothers and two half sisters residing in Wisconsin and Minnesota.

Her honorary distinctions include a Doctorate of Humane Letters from New Jersey Institute of Technology (2002), a Doctor of Science from Worcester Polytechnic Institute, and a Doctor of Letters from William Woods University.

Career

In 1976, Bartz began her career at manufacturing giant 3M but left after her request to transfer to the corporate headquarters was declined. She then transitioned into the technology sector with positions at Digital Equipment Corporation and later at Sun Microsystems.

CEO of Autodesk

Assuming the role of CEO at Autodesk in 1992, Bartz steered the company to become a dominant force in computer-aided design software tailored for architects and construction professionals. She implemented the "3F" or "fail fast-forward" philosophy, which promoted embracing risks and swiftly recovering from setbacks. Bartz resigned as CEO in 2006 but continued as executive chairman.

Under her leadership spanning 14 years, Autodesk’s yearly revenue expanded from $300 million to $1.5 billion, while its stock price appreciated approximately 20% per year.

Bartz also contributed her expertise on several boards including those of Intel, Cisco Systems, Autodesk itself, BEA Systems, Network Appliance, as well as the Foundation for the National Medals of Science. Furthermore, she was part 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!, the internet services company operating one of the world’s most frequented websites, succeeding co-founder Jerry Yang. During a conference call with financial analysts that same month, she pledged to provide Yahoo! with "some friggin' breathing room" to "kick some butt." Nonetheless, doubts persisted regarding her capacity to revive the company.

By May 2009, reports indicated that Bartz had restructured Yahoo!’s management team, replaced key executives, and implemented cost reductions including cutting 675 positions—approximately 5% of its workforce. Analysts regarded these steps as essential for turning around the business. However, employees faced ongoing uncertainty due to additional layoffs and site closures, exacerbated by Bartz’s reputation for confidentiality and a stringent "need to know" policy concerning internal communications. She notably cautioned staff against leaking information to media outlets.

At the one-year anniversary in January 2010, Bartz self-assessed her performance with a "B−" grade amid internal obstacles. Media reviews tended to be more positive given the challenging circumstances faced by the company.

Her initial compensation package included a $1 million base salary, eligibility for bonuses up to 400%, five million shares of stock, along with an $18 million equity award designed to compensate for previously forfeited equity. In 2010, proxy advisory firm Glass-Lewis labeled her as the "most overpaid" CEO after total earnings reached $47.2 million.

On September 6, 2011, Yahoo Chairman Roy Bostock abruptly dismissed Bartz from her CEO role; CFO Tim Morse was appointed interim CEO. Bartz publicly criticized how the board managed her exit and initially intended to stay on Yahoo!’s Board of Directors but resigned on September 9, 2011.

Corporate board roles

Over the last two decades, Bartz has held positions on the boards of eight publicly traded companies. As of February 2018, she is a board member at both PlanGrid and Cisco. By December 2017, her holdings included more than 52,000 shares of Cisco stock, with an estimated value near $1.6 million.

Additionally, she has invested in Caliva, a company operating within the cannabis industry.

Awards

In 2001, Bartz was honored with the Ernst & Young Entrepreneur of the Year Award. She was also recognized by Forbes Magazine as one of The World's 100 Most Powerful Women in 2005 and maintained a presence on this list for six years in a row.

Personal life

Bartz is a survivor of breast cancer. She is married to Bill Marr, who previously held executive roles at Data General and Sun Microsystems. Together, they have three children. Her personal interests include golf, tennis, and gardening.

Regarding managing professional and family responsibilities, Bartz has expressed: "I believe life isn’t about achieving balance since balance implies perfection... Instead, it’s about catching the ball before it hits the floor."