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.


Join us at PORTADA New York!


Editorial Staff

Portada Staff

MORE FROM PORTADA

Meltwater’s Ana Hoyos: “We See Great Potential for AI Expansion in Latin America”

Meltwater’s Ana Hoyos: “We See Great Potential for AI Expansion in Latin America”

The social media landscape is changing at an accelerated pace; artificial intelligence is acquiring a prominent role and companies have to adapt to survive. We talked to Ana Hoyos, area director at Meltwater Latin America, about the recent acquisition of Sysomos and what it means for social media analysis.


Loyalty, Brand Preference and the Economy Segment Traveler  

Loyalty, Brand Preference and the Economy Segment Traveler  

With the tremendous growth of economy segment hotels and low-cost air carriers, hotel and travel companies as well as the airlines, have begun to take notice and adapt to this expanding segment of travelers. To ensure that their brands stand out and become the best choice for these travelers, players in the travel industry are delving deeper into loyalty, personalization and brand preference in the economy travel segment.


Gatorade’s Jill Leccia: “We Promote Sports Within Young Soccer Players and Document Their Amazing Stories”

Gatorade’s Jill Leccia: “We Promote Sports Within Young Soccer Players and Document Their Amazing Stories”

Jill Leccia, Gatorade Sr. Director of PepsiCo Latin America Beverages, talked to Portada about the process of creating a global marketing campaign that's also aware of consumer's individual needs. Today it is more important than ever for brands to connect with consumers at a personal level while keeping local idiosyncrasies in mind but within a global context.