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Marissa Mayer To Resign From Yahoo Board as Remaining Company Renames Itself Altaba

posted by on Wednesday January 11 2017, @06:36AM   Printer-friendly
from the more-golden-parachutes dept.

Phoenix666 and takyon write:

Despite hiccups, Yahoo's planned sale to Verizon appears to be moving forward — but some portions of the company will be left behind and renamed Altaba Inc.

Yahoo is hanging on to its 15 percent stake in Alibaba and its 35.5 percent stake in Yahoo Japan, and those assets will survive as an investment company under the new name Altaba Inc., as the rest of Yahoo integrates with Verizon. The assets had previously been nicknamed Remain Co.

Only five board members will remain at Altaba: Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith. The rest of Yahoo's board, including CEO Marissa Mayer, will step down from the newly formed company. Mayer may be tapped for a role in Yahoo's integration at Verizon, but her position has yet to be announced.

Also at CNET, Reuters, Bloomberg, and CNN.

Original Submission #1   Original Submission #2

 
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  • (Score: 3, Funny) by EvilSS on Wednesday January 11 2017, @08:37AM

    by EvilSS (1456) Subscriber Badge on Wednesday January 11 2017, @08:37AM (#452423)
    Oh I would too, and I have no doubt buying Yahoo would go down as a massive mistake for them. However you cannot deny Verizon is a profitable company and well positioned in their field, while Yahoo is... well the opposite of all that. So Verizon buying Yahoo makes about as much sense as them spending a few billion dollars buying up all the world's beanie babies.
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  • (Score: 2) by Unixnut on Wednesday January 11 2017, @11:33AM

    by Unixnut (5779) on Wednesday January 11 2017, @11:33AM (#452458)

    Verizon is a profitable company and well positioned in their field, while Yahoo is... well the opposite of all that.

    Reminds me of the AOL - Time Warner merger. That went really well right... right?

    • (Score: 2) by EvilSS on Wednesday January 11 2017, @12:05PM

      by EvilSS (1456) Subscriber Badge on Wednesday January 11 2017, @12:05PM (#452468)
      Oh yea, worked out great for TW :) That one at least made a little more sense since AOL was still somewhat relevant at the time (although that didn't last long after merger). Hard to believe it was AOL that bought Time Warner in that deal. Yahoo has pretty much lost all relevance in anything that they do.