Yahoo to Change Name to Altaba, Mayer to Leave Board

What: Yahoo will be renamed Altaba Inc. following Verizon's US$4.83 billion acquisition of the company.
Why it matters: Marissa Mayer is stepping down from Yahoo's board after the closing of its deal along with 5 other directors.

descarga-8descarga-7Yahoo will be renamed as Altaba and CEO Marissa Mayer is stepping down from the board after the closing of its deal with Verizon Communications.The name is a combination of the words “alternate” and “Alibaba,” according tothe Wall Street Journal.

Yahoo has a US$4.83 billion deal with Verizon to sell its core Internet business, which includes its digital advertising, email and media assets.

After the sale, the company will change its name to Altaba from RemainCo, Yahoo said in a regulatory filing on Monday. Altaba's primary assets will be a 15 per cent stake in Chinese e-commerce company Alibaba Group and 35.5 per cent stake in Yahoo Japan.

Mayer is not the only one to depart from the combined company, as cofounder David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, and Maynard Webb will be leaving. Eric Brandt will become the chairman of the board.

Shares in Yahoo were up today 0.27 percent to close at US$41.34, while Verizon’s were down 1.09 percent at US$52.68.


Editorial Staff @portada_online

Portada Staff

MORE FROM PORTADA


The 5 Most Pressing Questions About Influencer Marketing Answered by Band of Insiders, Best Buy, Bimbo, and Pepsico

The 5 Most Pressing Questions About Influencer Marketing Answered by Band of Insiders, Best Buy, Bimbo, and Pepsico

During the seventh edition of the #PortadaMX summit, experts in Influencer Marketing took the stage to discuss best practices surrounding this elusive but undeniably effective tool to reach consumers. Vivian Baron, CEO and Creative Chairwoman at Band of Insiders, presented the panelists: Best Buy Mexico's E-commerce Subdirector José Camargo, Grupo Bimbo's Global Consumer Engagement Lead Giustina Trevisi, Band of Insiders' Influencer Marketing Manager Leonardo Vargas, and Pepsico/Drinkfinity's Director of Business Innovation & Marketing Yamile Elias.


Experts: Sears’ Future in Mexico Remains Bright, Implications for U.S. Hispanic Market

Experts: Sears’ Future in Mexico Remains Bright, Implications for U.S. Hispanic Market

Experts tell Portada the downfall of the storied retailer won’t affect the Sears franchise in Mexico where better merchandising and e-commerce under the management of Grupo Carso, owned by Mexican billionaire Carlos Slim, have built the franchise into a big hit with Mexican consumers. The implications for the U.S. Hispanic Market.