Yahoo CEO Marissa Mayer, once tasked with turning the struggling company around, is set to exit the company’s board when its sale to Verizon closes, a company SEC filing said today.
The exit of Mayer, along with Yahoo co-founder David Filo and four other board members, will reduce the size of the company’s board to five members. Upon closing the deal, Yahoo will take on a new name: Altaba Inc.
Hired in July 2012 to help fix the flailing company, Mayer initially appeared to bring new life to Yahoo with shiny acquisitions, like the $1.1 billion purchase of Tumblr, that got the media and tech world buzzing. But ultimately, Mayer didn’t steer Yahoo in a new direction. She’ll hand over Yahoo to Verizon in essentially the same shape as she found it: a middling content company that tries to do a lot but excels at little.
As former Arizona Cardinals coach Dennis Green would put it:
Yahoo’s final days as an independent company are mired in embarrassment, specifically recent revelations of a massive cyberattack that compromised over 1 billion users’ accounts. Verizon is demanding new terms following the damaging news.
- Saturday is Trump's 100th day in office. We found an average of about one false statement per day from him and his aides so far 💯
- A luxury event called Fyre Festival turned into a total shitshow. Headliners dropped out and guests tweeted photos of bare-bones food and lodging 😱
- American Airlines gave workers a raise — to the highest pay in the industry — and Wall Street is furious. The company's stock has been falling since Thursday.
- A teen had a remarkably petty response when her ex asked for his prom money back: She paid him in all pennies 😏
Report an Issue
Drag to highlight one or more parts of the screen.
We got your feedback, and we'll follow up with you at
Sadly, an error occured while sending your feedback. Please contact email@example.com to let us know.