Yahoo to change name, trim board if Verizon deal gets done

SAN FRANCISCO (AP) — Yahoo will undertake a brand new company id and reduce the dimensions of its board in half if the proposed $four.eight billion sale of its digital providers to Verizon Communications goes by way of.

The corporate plans to vary its identify to Altaba Inc. after it turns over its e mail, web sites, cellular apps and promoting instruments to Verizon. CEO Marissa Mayer and 4 different administrators at present on Yahoo’s 10-member board will resign after the deliberate sale closes.

However the Verizon deal has been jeopardized by Yahoo’s current discovery of two separate hacking assaults that stole private info from greater than 1 billion consumer accounts.

In the one change that took impact Monday, Yahoo director Eric Brandt turned the corporate’s chairman. He replaces Maynard Webb, who turns into chairman emeritus till the Verizon deal closes.

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