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May 19, 2017
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Yahoo to Change Name, Trim Board If Verizon Deal Gets Done

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Winston
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Yahoo to Change Name, Trim Board If Verizon Deal Gets Done

Post by Winston » Tue Jan 10, 2017 6:43 am

Yahoo to Change Name, Trim Board If Verizon Deal Gets Done
ASSOCIATED PRESS SAN FRANCISCO — Jan 9, 2017, 8:42 PM ET
Yahoo will adopt a new corporate identity and slash the size of its board if the proposed $4.8 billion sale of its digital services to Verizon Communications goes through.

The company plans to change its name to Altaba Inc. after it turns over its email, websites, mobile apps and advertising tools to Verizon. The new name is meant to reflect Yahoo's transformation into a holding company for investments in China's e-commerce leader, Alibaba Group, and Yahoo Japan that are worth about more than $40 billion combined.

Yahoo CEO Marissa Mayer, co-founder David Filo and four other directors currently on the company's 11-member board will resign after the planned sale to Verizon closes. Verizon is expected to retain Yahoo's brand under its ownership.

But the Verizon deal has been jeopardized by Yahoo's recent discovery of two computer hacking attacks that stole personal information from more than 1 billion user accounts during two different intrusions that occurred in 2013 and 2014.

Verizon is reassessing whether it should renegotiate the sales price or perhaps cancel the deal light of hacking revelations that could trigger a backlash among Yahoo users upset about sensitive personal details being stolen. Yahoo is fighting to keep the deal intact.

In the only change that took effect Monday, Yahoo director Eric Brandt became the company's chairman. He replaces Maynard Webb, who becomes chairman emeritus until the Verizon deal closes.

Brandt, the former chief financial officer of chipmaker Broadcom, joined Yahoo's board 10 months ago. Webb had been Yahoo's chairman for nearly four years. If the Verizon deal closes, Webb will leave the board along with Mayer, Filo and Eddy Hartenstein, Richard Hill and Jane Shaw.

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Altaba? What a shitty name! ROFL. What was wrong with Yahoo? Oh well. It's not up to me. Altaba reminds me of fish bait my father used. Catawba worms.
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Re: Yahoo to Change Name, Trim Board If Verizon Deal Gets Done

Post by TopDog » Tue Jan 10, 2017 2:11 pm

Winston wrote:Altaba? What a shitty name! ROFL. What was wrong with Yahoo? Oh well. It's not up to me. Altaba reminds me of fish bait my father used. Catawba worms.
It sounds like an anti-depressant. "Depression hurts, but Altaba can help!"

It's hard to gin up a lot of sympathy for Yahoo, as they have squandered every opportunity and product they have: Mail, Messenger, Flickr, Tumblr, Answers, Groups - all of these were state of the art popular services.
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