Marissa Mayer quits Yahoo!

Ashley Carr
June 15, 2017

In April, USA Today reported that Tim Armstrong, then-CEO of AOL and now CEO of Oath, stressed that the brands within the new company would stay the same. The fallout from the digital intrusions forced Yahoo to give Verizon a $350 million discount on the initial sale terms reached last July, causing the deal to be delayed by several months. She will walk away from Yahoo with a compensation package now worth about $125 million, including her severance pay and stock awards that will be fully vested with the deal's completion.

The CEO of Yahoo!, Marissa Mayer, is going to resign as she hasn't got a role she likes. Oath comprises more than 50 media and technology brands including TechCrunch, HuffPost, Tumblr, Engadget and flickr.

The Verizon acquisition marks the end of Yahoo as a stand-alon internet company, often regarded as an early internet pioneer and once valued at more than $100 billion.

The assets, which include Yahoo Finance, will be combined with AOL brands such as the Huffington Post under a new subsidiary called Oath.

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"The close of this transaction represents a critical step in growing the global scale needed for our digital media company". The company not only plans to become the best partner to its advertising, publisher, and content partners, but also wants to emerge as the best consumer media business. We say appropriately because Oaths involve rather a lot of swearing, which is exactly what Yahoo has been for the last decade. During her tenure, Yahoo's share price more than tripled as the value of its Asian investments soared. Looking further back, if Mayer had been booted in 2014, her severance would have totaled around $157.9 million, multiple news orgs reported at the time. "We have dominating consumer brands in news, sports, finance, tech, and entertainment and lifestyle coupled with our market leading advertising technology platforms".

Yahoo stock was trading at about $52.50 midday on Tuesday.

The remaining part of the business not acquired by Verizon is set to be renamed Altaba Inc, which will serve as a holding company for its 15,5% stake in Alibaba and its 35,5% shareholding in Yahoo!

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