The end of Yahoo: Marissa Mayer to resign and firm to change its name to Altaba

[Arthur]

Finally some good news!

 

Source: Yahoo! (via Daily Mail)

 

Yahoo has revealed it plans to change its name to Altaba, while beleaguered boss Marissa Mayer will leave, if the firm is bought by Verizon.

 

The SEC filing has revealed the firm's plans - despite ongoing concerns the recent revelation user's accounts were hacked could scupper the $4.8bn deal.

 

Mayer, along with Yahoo cofounder David Filo and four other members of the board will step down after the deal closes, Yahoo said.

 

Verizon is acquiring Yahoo's operating business under the proposed transaction, while Yahoo's remaining business, which consists primarily of its stake in Chinese ecommerce giant Alibaba and its partnership in Yahoo Japan, will continue to exist as a separate company.

 

The board resignations announced on Monday refer to the remaining investment company that's not going to Verizon, and which will be renamed 'Altbaba,' the company said.

 

Mayer would walk away with an approximately $55 million severance package if Yahoo's sale to Verizon ousts her from her job.

 

A regulatory filing in April disclosed that Mayer would get a payout consisting of cash, stock awards and other benefits should she be forced out as CEO within a year after a sale.

 

But the actual payout of so-called change-in-control severance benefits is likely to be larger. Yahoo's estimates were based on a share price of $33.26 on 31 Dec.

Edited January 9, 2017 by Arthur

[DJ-1701]

But... what will happen with all my contacts on Yahoo Instant Messenger?!... Wait, sorry, we're not in the 90's are we.

[mikeprice]

But... what will happen with all my contacts on Yahoo Instant Messenger?!... Wait, sorry, we're not in the 90's are we.

 

Well - we aren't - but who knows when you are

[gshaw]

Always thought Yahoo was a bad enough name for the company but Altbaba makes it almost sound sensible

[unixman_again]

I logged into my yahoo email today and saw this

Is this a last hurrah before they change the name. What will happen to my email address, which I've had since 1999? Presumably eventually it will become [email protected]?

[Arthur]

Always thought Yahoo was a bad enough name for the company but Altaba makes it almost sound sensible

The new name is meant to stand for "Alternative Alibaba". It must have taken them weeks or months to come up with that!

 

www.washingtonpost.com/news/the-switch/wp/2017/01/09/how-yahoo-came-up-with-its-new-name-altaba/

 

The new name is meant to be a combination of the words “alternative and Alibaba,” according to a person familiar with the company’s thinking, who spoke on the condition of anonymity because the individual was not authorized to speak on the record about the name change.

[Arthur]

What will happen to my email address, which I've had since 1999?

I think your e-mail address will stay the same since Verizon will own the Yahoo domain names.