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Yahoo to be Named Altaba, Mayer to Leave Board After Verizon Deal
Jan. 10, 2017 09:04AM PST
Data Investing
Yahoo (NASDAQ:YHOO) said Monday that it would rename itself Altaba and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications. 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. As quoted …
Yahoo (NASDAQ:YHOO) said Monday that it would rename itself Altaba and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications. 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.
As quoted in the press release:
The terms of that deal could be amended – or the transaction may even be called off – after Yahoo last year disclosed two separate data breaches; one involving some 500 million customer accounts and the second involving over a billion.
Verizon executives have said that while they see a strong strategic fit with Yahoo, they are still investigating the data breaches.