 |
| Yahoo CEO Marissa Mayer delivers her keynote address at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada in this January 7, 2014, file photo. (REUTERS) |
Yahoo Inc said Monday that it would rename itself Altaba Inc and CEO Marissa Mayer will resign from the board after the settling of its negotiations with Verizon Communications Inc.
Yahoo has an arrangement to sell its center web business, which incorporates its digital advertising, email and media resources, to Verizon for $4.83 billion.
The terms of that deal could be corrected - or the exchange may even be canceled - after Yahoo last year uncovered two separate data breaches; one including somewhere in the range of 500 million client accounts and the second including over a billion.
Verizon officials have said that while they see a solid key fit with Yahoo, they are still investigating the data breaches.
Five other directors in Yahoo would have to step down after the closure of the deal with Verizon, 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. - Reuters
0 comments:
Post a Comment