After the deal with Verizon company Yahoo will change its name to Altaba. About it reports The Verge with reference to the report of the Commission on securities and stock exchanges of the USA.
Just because Verizon buys the core business of Yahoo, not the entire company, it will be divided into two parts. The composition will include Verizon Yahoo. The remaining part of the Internet Corporation will become a holding company under the name Altaba, which will own shares in Alibaba and Yahoo Japan.
After deal, the head of Yahoo Marissa Mayer Altaba will leave the board of directors. With she will go five more members of the board, including the co-founder of Yahoo! David Filo.
What is the role of Marissa Meyer will play in Yahoo after the merger with Verizon (and will), is still unknown. It had previously said it has no plans to leave the company.
Below is a brief list of the main consequences of the merger:
- The deal with Verizon will divide Yahoo into two parts.
- Verizon buys the core business of Yahoo (search engine, mail and other services).
- Yahoo will continue to exist, but as part of Verizon.
- Marissa Meyer will probably stay in Yahoo.
- The remaining part of the Internet Corporation will be a holding company called Altaba.
- Meyer will leave Altaba board of directors.
It is important to note that none of this will happen as long while this deal will not be closed. After it became known about the two massive leaks of user data Yahoo, the agreement is in jeopardy.
