Marissa Mayer to resign from Yahoo board; Yahoo to change name to “Altaba”

Posted on Posted in 2016 Business Opportunities For You, What's Trending Now

 

It’s the end of an era: Yahoo as we know it is no more.

While we already knew most of the venerable search engine company was being sold to Verizon – a $4.8 billion purchase – the remainder of the company announced today that it’s renaming itself to “Altaba”.

 

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This is the portion of the company that maintains a 15 percent ownership of Alibaba and 35.5 percent stake in Yahoo Japan. Altaba will operate as an investment company from here on out.

According to a filing with the Securities and Exchange Commission (SEC), all but five of Altaba’s board of directors will step down upon the conclusion of the deal, namely David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, Maynard Webb, and CEO Marissa Mayer.

While there’s nothing preventing Mayer from having a role in the restructured company, nothing has been announced yet.

 

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