Bartz, 60, will replace Jerry Yang – one of the companies co-founders.

Jerry Yang has been criticized for his inability to make critical decisions regarding the company due to ‘emotional ties’ to the brand.

In recent years Yahoo has had stiff competition from other internet companies like Google and has turned down offers to be bought out by Microsoft.

Bartz holds a BA degree in computer science from the University of Wisconsin and is on the Board of Directors for Cisco Systems, Intel and still serves as executive Chairman at Autodesk.

Her appointment has yet to be formally announced. Yahoo said that Jerry Yang will step down as soon as the new CEO is officially named.

According to reports, Carl Icahn has swooped in and purchased 50 million shares of Yahoo stock and it’s believed Icahn is planning a proxy fight to oust the current Board of Directors at the company.

By taking such a large position, Icahn could force the company into a deal with another internet company like AOL or Microsoft. Or there’s always the option of teaming up with Google to deliver advertising to their portal visitors.

No matter how you look at it, Jerry Yang better prepare for a fight. Carl Icahn is one tough cookie.

What are your thoughts on Yahoo? Who would they best “integrate” with online?