Web giant Yahoo has named Carol Bartz, who led computer-assisted design firm Autodesk for 14 years, as the company’s new Chief Executing Officer (CEO), replacing former Yahoo CEO Jerry Young.

Yahoo also informed that President Sue Decker, who had been a likely candidate for the CEO position, had resigned.

Jerry Young announced he would be stepping down as the company’s CEO back in November, after he had come into much criticism for his decision to turn down a $47.5 billion bid from Microsoft to buy Yahoo and a failed online advertising partnership with Google Incorporated.

Carol Bartz, 60, came to work for Autodesk in 1992, after having left Sun Microsystems, where she had served as a top executive, and she has also worked at Digital Equipment and 3M.

Bartz is now expected to pull Yahoo out of their financial issues and increase the company’s stock price that has gone down by 60 percent as an aftermath of Yang’s refusal to accept the offer from Microsoft.

This Tuesday, Yahoo closed at $12.20 a share, which translates as a decrease by 12 cents.

Moreover, Carol Bartz is also facing pressure to sell Yahoo to Microsoft, which according to Chief Executive Steve Ballmer has decided to reopen negotiations to purchase the ailing web giant.

During her tenure at Autodesk, Bartz managed to double the firm’s sales within only three years, while she was at that time fighting breast cancer, which has earned her a reputation of being a very effective and actively involved manager.

When she left Autodesk, the company’s sales had quintupled and their stock price had gone up by more than 1,000 percent.