Yahoo Set To Change Its Name To ‘Altaba’

Photo Source: The New Yorker

Yahoo confirmed on Monday 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 giant.

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.