At Yahoo’s first Shareholder’s meeting since new Chief Executive Carol Bartz was hired six months ago it soon became clear that the new boss means business.
Yahoo has been struggling for several years and still is. Bartz’s predecessors Terry Sernel and Jerry Yang tried to put Yahoo back on track but failed miserably.
This is now the fourth year in a row where Yahoo’s stock price is lower than it was the previous year so it’s fairly obvious that the company needs to do something fairly drastic.
You never know, the new boss might just be the thing they need. Carol Bartz is taking a no nonsense approach in her attempt to do what others before her have failed to do.
At this years meeting, Bartz took the Podium and set the agenda and Yahoo’s Chairman, Roy Bostock, didn’t say a word, unlike last year.
Bartz’s responses to questions were straight to the point leaving shareholders in no doubt as to who was calling the shots now.
“If I see another Britney Spears thing, I am going to throw up,” she said referring to Yahoo having too much entertainment based stories on their front page.
Bartz wasn’t about to be drawn either when asked by two shareholders why Yahoo isn’t doing more to protect human rights and freedom of speech in China.
“Yahoo was not incorporated to fix China” was her response.
Bartz was certainly upbeat about the future, we will “get our mojo back” she said “we are working really hard on that”.
Yahoo’s biggest rival is undoubtedly Google Inc but Bartz made it clear that the two companies should not be compared.
“A direct comparison to Google is not fair for Yahoo and frankly not relevant,” Bartz said, referring to Google as a “pure search” company and to Yahoo as more of an “online home”.
Finally, Microsoft had to come up at some point as Microsoft and Yahoo have been trying to battle out an Internet search partnership which could ultimately challenge dominant Google but Bartz made it clear she didn’t want to answer any questions about Microsoft.
The possibility of a partnership between Yahoo and Microsoft has been played down by Bartz recently and at the meeting she said she would not discuss negotiations publicly unless a deal was done.
Bartz certainly seems to be enjoying her new role. “I’m having a ball” she said.
As to whether she can do the necessary to get Yahoo’s mojo back, we’ll just have to wait and see.
