Ya­hoo chief Marissa Mayer to leave com­pany board af­ter Ver­i­zon sale

Enterprise - - International news -

Ya­hoo has con­firmed that chief ex­ec­u­tive Marissa Mayer will quit the com­pany ´s board af­ter its merger with Ver­i­zon.

Mayer is ex­pected to re­main with Ya­hoo ´s core busi­ness, which is be­ing bought by the US tele­com ti­tan. Ya­hoo is sell­ing its in­ter­net op­er­a­tions as a way to sep­a­rate that from its more valu­able stake in Chi­nese in­ter­net gi­ant Alibaba.

The share-tend­ing en­tity, to be re­named Altaba, Inc., will act as an in­vest­ment com­pany with its board re­duced to five mem­bers, ac­cord­ing to a fil­ing with the Se­cu­ri­ties and Ex­change Com­mis­sion.

Ya­hoo co-founder David Filo and Mayer will be among those re­sign­ing from the board, ac­cord­ing to the fil­ing.

When asked what role Mayer will play af­ter the merger with Ver­i­zon, the com­pany re­ferred AFP to a Tum­blr post from July, 2016, af­ter the deal to sell the com­pany ´s core op­er­a­tions was an­nounced.

“For me per­son­ally, I´m plan­ning to stay,” Mayer said in the post.

“It´s im­por­tant to me to see Ya­hoo into its next chap­ter.” Mayer re­mains chief ex­ec­u­tive at Ya­hoo.

It still re­mained un­clear how news of re­cent large-scale hacks might af­fect Ya­hoo ´s deal to sell its core op­er­at­ing as­sets to Ver­i­zon for $4.8 bil­lion, or Mayer ´s role going for­ward. Ya­hoo said in De­cem­ber last year that per­sonal data from over a bil­lion users was stolen in a hack dat­ing back to 2013 -- twice as big as an­other breach dis­closed just three months ear­lier.

Ver­i­zon said in a state­ment in De­cem­ber, 2016 that it would await fur­ther news of the in­ves­ti­ga­tion be­fore mak­ing any de­ci­sion.

“As we ´ve said all along, we will eval­u­ate the sit­u­a­tion as Ya­hoo con­tin­ues its in­ves­ti­ga­tion,” the state­ment said.

Ver­i­zon had said the prior breach was likely “ma­te­rial,” mean­ing it could al­low the tele­com gi­ant to scrap the deal or lower its of­fer.

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