Marissa Mayer

Yahoo to change name and lose Marissa Mayer as a board member pending sale to Verizon

Yahoo to change name and lose Marissa Mayer as a board member pending sale to Verizon

Yahoo Chief Executive Marissa Mayer will step down from the board of directors and the Internet giant will change its name to Altaba Inc. after the company's pending sale to Verizon closes, according to a Monday filing with the Securities and Exchange Commission.

Verizon announced plans in July to acquire Yahoo for approximately $4.83 billion. The deal doesn't include Yahoo's share in the Chinese online retail giant Alibaba or Yahoo Japan. Mayer, a former Google exec who joined Yahoo as chief executive in 2012, previously said she would continue working for the company after the acquisition.

"For me personally, I'm planning to stay. I love Yahoo, and I believe in all...

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