IT Live: Yahoo Inc said Monday that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc.
Verizon executives have said that while they see a strong strategic fit with Yahoo, they are still investigating the data breaches. Five other Yahoo directors would also resign after the deal closes, Yahoo said in a regulatory filing on Monday.
The remaining directors will govern Altaba, a holding company whose primary assets will be a 15% stake in Chinese e-commerce company Alibaba Group Holding Ltd and 35.5% stake in Yahoo Japan.
Dhaka, 10 Jan. (campuslive24.com) // IH