Yahoo CEO Marissa Mayer Resignation
Marissa Mayer is resigning from Yahoo’s board of directors, the company announced in a filing with the SEC on Monday. The Yahoo CEO’s pending resignation from the board is part of a broader restructuring. Despite hiccups, Yahoo’s planned sale to Verizon appears to be moving forward but some portions of the company will be left behind and renamed Altaba Inc.
What’s the future for Yahoo CEO Marissa Mayer
Mayer’s hiring in 2012 was deemed a ‘coup’ but costly gambles, such as the $1.1bn acquisition of Tumblr, came to epitomize her doomed effort to reinvent Yahoo. Mayer’s hiring in July 2012 was heralded as a coup for the struggling company. Yahoo was in a state of turmoil at the time, having run through four chief executives in the previous four years. And for the past four years, CEO Marissa Mayer has borne the brunt of that protest, while attempting to turn around Yahoo’s fortunes.
Yahoo CEO Marissa Mayer is Verizon’s upcoming purchase of the company
The company is also set to change its name to Altaba, following numerous controversies over the past few years, which included the hack and consequential leak of over 1 billion user account details. The rest of Yahoo’s board, including CEO Marissa Mayer, will step down from the newly-formed company. Mayer may be tapped for a role in Yahoo’s integration at Verizon, but her position has yet to be announced. The filing is an indication that Verizon is moving forward with its purchase of Yahoo, which disclosed multiple security breaches last year affecting more than 1 billion users.
Yahoo CEO Marissa Mayer To Quit Board After Verizon Acquisition
Yahoo CEO Marissa Mayer plans to step down from her company’s board after a planned acquisition by Verizon closes. Verizon’s executives have hedged about the price after Yahoo disclosed a massive hacking of its users’ information that raised questions about whether it had notified users about the breaches quickly enough. In the filing, Yahoo said that the board resignations are not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Yahoo CEO Mayer to resign from board
Yahoo CEO Marissa Mayer, co-founder David Filo and others plan to resign from the company’s board when it completes its $4.8 billion sale to Verizon. Meyers absence from the new company’s board is not surprising at all, said Gil Luria, managing director for equities research at Wedbush Securities in Los Angeles. The high-profile Mayer, who was brought in to save the Internet icon in 2012; Filo, who co-founded the company at Stanford University in 1994; board chairman Maynard Webb; and three others are departing. It is unclear, however, if Mayer, a native of Wausau, will remain in some capacity.
Yahoo to be renamed Altaba after Verizon deal
The company plans to change its name to Altaba Inc after it turns over its email, websites, mobile apps and advertising tools to Verizon. The new name is meant to reflect Yahoo’s transformation into a holding company for investments in China’s e-commerce leader, Alibaba Group, and Yahoo Japan that are worth about more than $40 billion combined. Verizon did not buy the parts of Yahoo that are essentially an investment holding company, with shares in Alibaba, Yahoo Japan and other firms.