Yahoo to be named Altaba, Mayer to leave board after Verizon deal
Yahoo Inc said Monday (09/01/2017) that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc.
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.
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.
Five other Yahoo directors would also resign after the deal closes, Yahoo said in a regulatory filing on Monday. (bit.ly/2iXrbwn)
The remaining directors will govern Altaba, a holding company whose 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.
The new company also named Eric Brandt chairman of the board, effective Jan. 9.
Read more: http://www.newsbomb.gr/en/story/761124/yahoo-to-be-named-altaba-mayer-to-leave-board-after-verizon-deal#ixzz4VM4tXGsf
You may be interested
US Vice-President to Tsipras: Make reforms that will bring investmentsPanos - Oct 19, 2017
Prime Minister Alexis Tsipras met US Vice President Mike Pence in the White House on Wednesday. After the meeting, Mr.…
Arrivals surge on Greek islands despite EU-Turkey dealPanos - Oct 19, 2017
With Turkey being one of the items on the agenda of the EU summit starting on Thursday (19 October), AFP…
Weinsteingate: an explosive cocktail of sex and powerPanos - Oct 19, 2017
Allegations against Harvey Weinstein have sparked an international scandal. The Hollywood producer is accused of sexual assault and rape by…