Major changes coming at Yahoo-starting with its name- The company-- once it's sold to Verizon-- will call what's left Altaba.
According to media reports- the new name is meant to be a combination of the words 'alternative and Alibaba'.
Yahoo also announced Monday CEO Marissa Mayer will be stepping down from the board after closing the $4.8 billion deal with Verizon to sell its core internet business, which includes its digital advertising, email and media assets.
But the deal itself is on shaky ground- after Yahoo last year disclosed two separate data breaches; one involving some 500 million customer accounts and the second involving over a billion.
Verizon executives have said they are still investigating the hacks.
Altaba shareholders will hold on to the lucrative 15 percent stake in Alibaba and the 35 percent stake in Yahoo Japan.
Mayer who joined Yahoo as CEO in 2012 from Google was expected to turn the company around, but failed to do so. No word yet on whether she will leave Verizon after the taveover.
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