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Marissa Mayers to Resign From Yahoo! After Verizon Buys it and Changes the Name to Altaba

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Literally everyone saw this coming.

As Verizon is dotting the i’s on their contract to by out Yahoo!, Yahoo CEO Marissa Mayer will be resigning from the board after the acquisition is done. Along with Mayers, Co-founder David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, and Maynard Webb will be leaving.

The holding company what remains from Yahoo, including the Yahoo Japan and Alibaba stakes, will become an investment company known as Altaba, Inc.

Here’s what you have to understand though, Mayers is leaving the board. There’s no word yet on whether or not she’ll stick around after the company is bought by Verizon. Though she may not be CEO, Mayer’s may still have a place in the new company.

After the purchase by Verizon, Mayers issued a statement saying that she’s not going anywhere anytime soon. So I guess we’ll have to wait and see.

In any case, the new company, Altaba will be responsible for increasing returns on its investment in Yahoo Japan and Alibaba.

[via VentureBeat]

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