Venerdì, 16 Novembre, 2018

Marissa Mayer quits Yahoo as Verizon seals takeover

Sveva Terracina | 19 Giugno, 2017, 06:00

This also puts an end to almost five-year leadership of Yahoo CEO Marissa Mayer, who will not join Verizon and will walk away with a compensation package now worth about $125 million, along with her severance pay and stock awards that will be fully vested with the deal's completion.

The Oath Portfolio now includes AOL.com, Yahoo Sports, HuffPost, Tumblr, Makers, Yahoo Finance, Build Studios, and Yahoo Mail, etc.

"Given the inherent changes to Marissa Mayer's role with Yahoo! resulting from the closing of the transaction, Mayer has chosen to resign".

Oath has about 1.3 billion users who visit at least once a month, and Verizon hopes to use its range of content and create new forms of advertising to attract more viewers and marketers to the platform.

"Looking back on my time at Yahoo, we have confronted seemingly insurmountable business challenges, along with many surprise twists and turns", Mayer wrote, signing off with: "Yaho-o-oo!"

While the acquisition deal was announced in July last year, the process has been delayed as the companies had to deal with the aftermath of two data breaches suffered by Yahoo! last year.


In Verizon's announcement, Marni Walden, president of Media and Telematics at Verizon, said the transaction represents a "critical step in growing the global scale" that Verizon needs. Verizon wishes Mayer well in her future endeavors.

The closing of the deal, announced in July, had been delayed as the companies assessed the fallout from two data breaches that Yahoo disclosed previous year.

While no official announcement was made on Tuesday about job cuts, a source told CNBC last week that around 2,100 jobs could be slashed as Yahoo and AOL integrate.

Yahoo will be renamed as Altaba with 15.5% stake in Alibaba Group Holding Ltd and 35.5% holding in Yahoo Japan Corp.

"The combined set of assets across Verizon and Oath, from VR to AI, 5G to IoT, from content partnerships to originals, will create exciting new ways to captivate audiences across the globe", she added. Thomas McInerney, a former board member of Yahoo, will become CEO of the company.

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