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Marissa Mayer is resigning from Yahoo board, Yahoo to become Altaba Inc.

posted Jan 9, 2017, 9:53 PM by Barny CK

In a sign that Verizon's acquisition of Yahoo is moving forward, Marissa  Mayer is resigning from Yahoo's board of directors. Yahoo's $4.8 billion buyout by Verizon will leave remnants of the former giant to be renamed Altaba Inc., an investment company holding assets such as the 15% stake in  Alibaba and 35.5% in Yahoo Japan. While Mayer may move to Verizon to assist in Yahoo's integration into the company, five board members remain at Altaba; Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith. The news of the name change comes in a filing with the Securities and Exchange Commission. Verizon reportedly mulled requesting for a discount on the purchase when Yahoo disclosed multiple security breaches last year affecting more than 1 billion users.