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Yahoo CEO Marissa Mayer to step down from board
Monday, January 9, 2017, 7:24 PM
Yahoo Inc said Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc.
Five other directors would also resign after the deal closes, Yahoo said in a filing on Monday.
The company also named Eric Brandt chairman of the board, effective Jan. 9.
Verizon's $4.83 billion deal for Yahoo's core internet assets came under renewed scrutiny by federal investigators and lawmakers last month after Yahoo disclosed the largest known data breach in history.
Mayer said in July that she planned to stay at Yahoo through the transaction's close.
Yahoo said the remaining company would be renamed Altaba Inc after the deal closes.
Monday, January 9, 2017, 7:24 PM
Yahoo Inc said Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc.
Five other directors would also resign after the deal closes, Yahoo said in a filing on Monday.
The company also named Eric Brandt chairman of the board, effective Jan. 9.
Verizon's $4.83 billion deal for Yahoo's core internet assets came under renewed scrutiny by federal investigators and lawmakers last month after Yahoo disclosed the largest known data breach in history.
Mayer said in July that she planned to stay at Yahoo through the transaction's close.
Yahoo said the remaining company would be renamed Altaba Inc after the deal closes.
