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Yahoo renamed to Altaba, CEO Marissa Mayer resigns from Board

Yahoo might be one of the earliest names heard by many on the web for emailing and messaging on the Internet. At one point of time, it was considered as the biggest rival to Google. Now, the times have changed and the company’s name is officially changed. Yahoo is now called Altaba. In another news, the CEO of the company, Marissa Mayer has resigned from the board of directors.

Several assets of Yahoo were already acquired by Verizon for $4.8 billion but the part that kept the company’s name running with a few services, has made this announcement of the name change, according to Techcrunch. After the recent cybersecurity attacks, there were possibilities of another negotiation but the final announcement is not yet done about the pricing part.

The name Altaba, though seems like a weird one on hearing for the first time, it seems somewhat related to Alibaba and Altavista. Altaba is now going to run as an investment company from here, rather than what Yahoo was.

In the new company, only five board members will continue and the rest including Marissa Mayer will resign, according to the filing. The ones that are to stay are namely Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith.

What’s with Marissa Mayer’s role? She could be joining the new place where the integration of Yahoo happens into Verizon, but nothing is clear as of now except for the fact that she is no more in Altaba.

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