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Marissa Mayer to step down from board after Verizon deal

Staff Writer | January 10, 2017
The part of Yahoo that is not being sold to Verizon will be renamed Altaba and Yahoo CEO Marissa Mayer will step down from its board, but will continue to be CEO.
Marissa Mayer
Technology   $4.83 billion
Verizon agreed to buy Yahoo’s search engine and web portal for $4.83 billion back in July but Yahoo’s shareholders held onto the company’s lucrative investments.

This is including a 36% stake in Yahoo Japan, a 16% stake in Alibaba, and patent portfolio. This remaining entity has no product and no staff members.

According to an SEC filing, that entity will, provided the Verizon deal goes through, be know as Altaba and Yahoo CEO Marissa Mayer, along with five other board members, will resign from its board.

The Yahoo web portal, search engine, email and news services will continue to exist but will be integrated with AOL owned by Verizon.


 

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