February 22, 2017

Yahoo to change its name, CEO Marissa Mayer leaves

Yahoo to change its name, CEO Marissa Mayer leaves

On Monday, Yahoo confirmed that Marissa Mayer,CEO will quit the company’s board after its merger with Verizon.

Mayer is expected to remain with Yahoo’s core business, which is being bought by the US telecom titan. As a way to separate from more valuable stake in Chinese internet giant Alibaba,Yahoo is selling its main operating business.
According to a filing with the Securities and Exchange Commission,the share-tending entity, to be renamed Altaba, Inc., will act as an investment company with its board reduced to five members.

Yahoo co-founder David Filo and Mayer will be among those resigning from the board, according to the filing.When asked what role Mayer will play after the merger with Verizon, the company referred AFP to a Tumblr post from July, after the deal to sell the company’s core operations was announced.

For me personally, I’m planning to stay,” Mayer said in the post.”It’s important to me to see Yahoo into its next chapter.“Mayer remains chief executive at Yahoo.

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