Yahoo to be named Altaba, Mayer to leave board after Verizon deal

10 January 2017
652 Views

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

Coronavirus Greece: 1,606 new cases, 781 intubated
GREECE
shares39 views
GREECE
shares39 views

Coronavirus Greece: 1,606 new cases, 781 intubated

makis - Apr 12, 2021

Greek authorities announced that the new laboratory-confirmed cases of coronavirus recorded in the last 24 hours are 1,606, of which…

US: There will be costs if Russia acts against Ukraine
DEFENCE
shares46 views
DEFENCE
shares46 views

US: There will be costs if Russia acts against Ukraine

Panos - Apr 12, 2021

U.S Secretary of State Antony Blinken on Sunday said: “it would be a serious mistake” for China to strike at…

Kikilias: The plan is for vaccinations of healthy people in their 40s to begin in June
GREECE
shares44 views
GREECE
shares44 views

Kikilias: The plan is for vaccinations of healthy people in their 40s to begin in June

Panos - Apr 12, 2021

If everything goes according to plan and deliveries for the second quarter are made on time, vaccinations of healthy people…

Leave a Comment

Your email address will not be published.