Marissa Mayer is leaving Yahoo's board as the sale of the majority of the company's core web business to Verizon nears completion. Yahoo said in an SEC filing today that its board of directors will reduce itself to five members, meaning that the other six members of the board—Mayer among them—will step down.
After the closing of the sale, what's left of Yahoo will become an investment company. And it will get a new name since Verizon will own the rights to "Yahoo." That new name is Altaba.
By the way, the SEC filing gave no indication of how to properly pronounce the new name—just in case you were wondering. We sure were.
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