http://www.wsj.com/articles/after-s...ard-yahoo-to-change-name-to-altaba-1484002787Yahoo Inc. said its Chief Executive Marissa Mayer and co-founder David Filo will step down from the board after the sale of its core business is completed, and the company will change its name to Altaba Inc.
The company said in a regulatory filing that the moves would happen after the closing of the roughly $4.8 billion sale of its core business to Verizon Communications Inc.
To clarify:
- Verizon agreed last year to buy Flickr, Tumblr, Yahoo Mail and all other assets from Yahoo's core business
- Yahoo will retain its "cash, its shares in Alibaba Group Holdings, its shares in Yahoo Japan, Yahoo's convertible notes, certain minority investments, and Yahoo's non-core patents (called the Excalibur portfolio)" and will change its name to Altaba