In the late afternoon on Tuesday, Carol Bartz, executive chairman of the board of Autodesk Inc. was confirmed as the new CEO of Yahoo! Inc. by the online company itself.

It has been learnt that Bartz will immediately start with the new role as CEO and a member of Yahoo!'s board of directors.

Via a statement, Roy Bostock, Chairman of Yahoo!'s board informed, “We are very excited to have Carol Bartz leading Yahoo! into its next era of growth. She is the exact combination of seasoned technology executive and savvy leader that the board was looking for.”

It should be noted here that former CEO Jerry Yang, who had given up on the post last November following the failure of buyout talks with Microsoft Corp., the breakdown of an online advertising deal with Google Inc., and two rounds of layoffs, has been replaced by Bartz.

Bartz informed through a statement, “The Company has accomplished a great deal in its relatively short history, and I look forward to working together to take it to the next level.”

Prior to this job, Bartz served as the president and CEO of Autodesk, CAD software and Services Company, for 14 years before stepping down in 2006. Before Autodesk, she was working as an executive with Sun Microsystems Inc., Digital Equipment Corp. and 3M Corp.

Dan Olds, an analyst at Gabriel Consulting Group Inc. reported, “Bartz is the definition of 'adult management' and has shown herself to be able to grow companies through both good and bad times.”