Yahoo to be Renamed as Altaba, CEO Marissa Mayer to Resign

Yahoo, is no longer known as Yahoo. The CEO Marissa Mayer has resigned and Tech Crunch has given the report that the remaining board members have agreed to rename Yahoo as Altaba Inc.

The Securities and Exchange Commission has confirmed the name change of the company. Tech Crunch takes it as a sign that Verizon is buying Yahoo as planned before.

Verizon will acquire the major part of Yahoo’s assets, 15% stake will be retained by Altaba Inc. in Alibaba and 35.5% stake in Yahoo Japan.

Verizon will operate the blogs, email service, search engine and other properties that are on the homepage of Yahoo. Altaba is taking up those which are left behind after the sale of Verizon.

The board of members of Altaba comprises of five members: Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith. It is just a holding company that owns patents and stock.

Yahoo will live under Verizon quite well. Merissa Mayer may end her relation with Verizon but she hasn’t announced her future plans.

Users who use the services of the yahoo will not notice any changes even if Verizon takes over yahoo. There is a chance that the deal with Verizon might not happen as Yahoo has recently disclosed two significant hacks. According to the analyst, it can put the deal with Verizon in jeopardy.

At present, only this much information is available. More detail information will be revealed later on during the earnings call of Yahoo.

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