Yahoo to be renamed as Altaba, Marissa Mayer to resign from Yahoo board

Jul 07, 2008 - Mountainview, California, USA - MARISSA MAYER, VP of Search and User Experiences, Google is photographed on the Google campus in Mountainview, CA on July 7, 2008. From the high-tech scene, there has risen a new crop of accomplished female C

Yahoo has announced that its CEO Marissa Mayer will resign from the board once it completes the deal with Verizon. In addition, Yahoo will also be renamed as Altaba Inc, the company said in a regulatory filing. Yahoo has a deal to sell its core internet business, which includes its digital advertising, email and media assets, to Verizon for $4.83 billion.

Along with Mayer, cofounder five others will also leave Yahoo. Eric Brandt will become the chairman of the board. Mayer was named CEO of Yahoo after she came over from Google in 2012. Altaba’s primary assets will be a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd and 35.5 percent stake in Yahoo Japan.


Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+