Marissa Mayer Leaving Yahoo Board Amid Verizon Takeover

Marissa Mayer is leaving her post as a member of Yahoo‘s board once the 4.8 Billion sale to Verizon is complete. According to NBC News, Verizon made the announcement as a part of its filing with the Securities and Exchange Commission. Yahoo co-founder David Filo will leave once Verizon takes control of its operating business. Several other board member will also leave after the transition, NBC News reported. Mayer, who previously said she would stay with Yahoo after the Verizon sale, has not made an announcement about her future with Yahoo.

In addition to the board changes, Verizon will also change the name of Yahoo’s partnership business with Chinese wholesale retail provider Alibaba. The new name of the partner business will be Altaba.

Excluding the sale to Verizon, 2016 was one of the worst cybersecurity years for Yahoo . The company was forced to admit that its data security problems were worse than previously reported. Yahoo admitted that one billion users were affected by hackers in a data breech. The company released a statement about the problem.

“As Yahoo previously disclosed in November, law enforcement provided the company with data files that a third party claimed was Yahoo user data. The company analyzed this data with the assistance of outside forensic experts and found that it appears to be Yahoo user data. Based on further analysis of this data by the forensic experts, Yahoo believes an unauthorized third party, in August 2013, stole data associated with more than one billion user accounts. The company has not been able to identify the intrusion associated with this theft. Yahoo believes this incident is likely distinct from the incident the company disclosed on September 22, 2016.”

Verizon has not announced how it will deal with the massive cybersecurity problems at Yahoo. The 4.8 Billion deal includes Yahoo’s core internet business where the hacking problems exist.

 

Monica Link

Monica Link

Monica Link, Editor-in-Chief, is a New York City-based journalist, entrepreneur and performer producing media including content, stage, film and events. Her resume includes interviews with celebrities, New York Times bestsellers, executives and fashion designers. As a passionate lover of the arts, Monica attends and reviews elite art, movies, and books in addition to business and technology.