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
FYROM name dispute meeting in Vienna endsPanos - Apr 26, 2018
“We are committed to trying to find a solution to the name issue of FYROM”, the UN special mediator on…
Tsipras-Juncker meeting in AthensPanos - Apr 26, 2018
Greek Prime Minister Alexis Tsipras on Thursday will receiving EU Commission President Jean-Claude Juncker at his Maximos Mansion office. According…
Eurostat: ‘Severely materially deprived’ people in Greece at 21.1% of populationPanos - Apr 26, 2018
Eurostat this week calculated the number of "severely materially deprived people" in Greece at 21.1 percent of the country's population,…