Business

Yahoo to Become 'Altaba' After Verizon Deal

Yahoo to Become 'Altaba' After Verizon Deal

In another news, the CEO of the company, Marissa Mayer has resigned from the board of directors.

Maynard Webb, the current chairman of Yahoo's board, also intends to resign from Yahoo, as do David Filo, Eddy Hartenstein, Richard Hill and Jane Shaw.

The board resignations announced on Monday refer to the remaining investment company that's not going to Verizon, and which will be renamed 'Altaba, ' the company said.

Yahoo is shaking up its board and name several months after Verizon agreed to buy parts of it.

The Sunnyvale firm has said it remains committed to the Verizon sale, but Verizon has said it's still evaluating the largest data breach, of more than a billion user accounts. A Yahoo rep declined to say whether Mayer will have a new position under a joint Verizon-Yahoo. She will most likely stick to that plan, but only stay at Verizon for a brief period.

Manchester City crushed West Ham FA Cup
Angelo Ogbonna fouled Pablo Zabaleta and Toure smashed the ball past Adrian to make it 10 penalties from 10 in English football. Reid received rich praise from fans during the match as the West Ham faithful shared their thoughts online.

Another analyst believes that Altaba, whose full value is made up mostly of Yahoo's stake in Alibaba, will likely be wound down over time through selling the stakes in Yahoo Japan and Alibaba to investors. The latter recently announced it was taking the Chinese department store Intime Retail private in a $2.6 billion deal. Also, the Yahoo leftover will be transformed into an investment company with the name Altaba Inc.

Mayer was appointed president, CEO and board member of Yahoo! in July 2012.

The filing noted risks faced by the company, including that Verizon might assert claims or re-negotiate terms "as a result of facts relating to the security incidents disclosed". While Brandt will be serving as the chairman of the board, Webb will become Chairman Emeritus of the Board, Yahoo said in a SEC filing.

Yahoo came under intense pressure when it reported two massive breaches in its extensive database a year ago.


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