(Reuters) - Yahoo Inc said Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc .
Five other directors would also resign after the deal closes, Yahoo said in an filing on Monday. (http://bit.ly/2iXrbwn)
The company also named Eric Brandt chairman of the board, effective Jan. 9.
Verizon's $4.83 billion deal for Yahoo's core internet assets came under renewed scrutiny by federal investigators and lawmakers last month after Yahoo disclosed the largest known data breach in history.
Mayer said in July that she planned to stay at Yahoo through the transaction's close.
Yahoo said the remaining company would be renamed Altaba Inc after the deal closes.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app