Yahoo! CEO Marissa Mayer announced Monday that she would leave her position on the board of directors after the resale of certain activities of the group to the telecommunications operator Verizon. What will remain of the group will be renamed Altbaba.
Tumultuous times at Yahoo
The iconic CEO of the group, Marissa Mayer, announced Monday that she will leave the board of directors of the investment company that Yahoo! will become after the sale of its main business to the telecom operator Verizon.
Six other current board members of Yahoo !, whose group co-founder, David Filo, also announced their intention to leave.
The six resignations will take effect immediately after the closing of the sale. They “are not due to any disagreement with the company on any subject related to the activities, policies and practices of the company,” said a document transmitted by Yahoo! to the US stock exchange.
The chair of the board should fall to one of the remaining members.
Yahoo! renamed Altbaba
After the sale to Verizon, the company will retain non-redeemed financial assets (mainly the stake in the Chinese group Alibaba) and will be renamed Altbaba. Its board of directors will be reduced to 5 members.
Verizon announced last summer its intention to buy Yahoo! (Yahoo Mail, Yahoo News), which are the core business of the group, for $ 4.8 billion in online advertising.
Despite the recent revelations of Yahoo! around the attacks of its services in 2013 and 2014, Verizon had said at the end of October ready to complete the transaction, while warning that he would wait to have evaluated the impact Of these pirates before acting.