Big changes are in the works for Internet pioneer Yahoo involving executive management and the famous company’s name. GameSpot sister site CNET reports that CEO Marissa Mayer will resign from the company after Verizon’s $4.8 billion acquisition of the firm goes through. Additionally, Yahoo co-founder David Filo is leaving the company’s board of directors when the sale is completed.
As CNET explains, only Yahoo’s consumer web business, which comprises Yahoo Mail and the site’s sports ventures, is being sold to Verizon, not the company altogether. The version of Yahoo that lives on after the sale will be called Altaba. It will continue to hold a stake in the Chinese online shopping giant Alibaba worth $36 billion.
All of this news was made public this week in a filing with the Securities and Exchange Commission. Yahoo has yet to make a formal announcement.
In December, Yahoo announced that 1 billion user accounts were compromised as part of what it believed to be the biggest hack in history as it relates to the number of affected accounts. Current and former White House staff, congressional leaders, FBI agents, officials at the CIA, and people at every branch of the US military were among those reportedly affected.
That was the second major hack that Yahoo acknowledged in 2016, as a previous one was reportedly perpetrated by a "state-sponsored" actor and resulted in 500 million accounts being compromised.
In March 2016, Yahoo announced Yahoo Esports, which it’s calling a "new premier destination for delivering professional esports coverage across major games and events."
Source: GameSpot
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