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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   
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.

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• All that's left (Score: 3, Insightful) by bradley13 on Wednesday January 11 2017, @12:03PM

  by bradley13 (3053) on Wednesday January 11 2017, @12:03PM (#452467) Homepage Journal

  So...all that's left is an investment company with some assets. If you were a shareholder, why would you suppose that the people left are competent to run an investment company? Let's be honest: all the board and remaining employees are going to do is suck value out of the investments in the form of excessive salaries and bonuses.

  The shareholders would benefit more by simply distributing the shares owned directly to the shareholders, and then disbanding the company.

  --
  Everyone is somebody else's weirdo.

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