In mid-2016 Yahoo, the web and search giant was acquired by United States telecoms giant Verizon for US$4.83 billion.
According to the latest news regarding the acquisition shared by the Wall Street Journal, there will be a new entity that will exist after the deal is concluded.
Yahoo is supposed to keep the 15% stake it owns in Alibaba plus its 35.5 percent stake in Yahoo Japan, both of which will go on as an investment company that will change its name from Yahoo to Altaba.
Another major change will be the reduction of its board to just five members – Jeffrey Smith, Catherine Friedman, Eric Brandt, Thomas McInerney and Tor Braham. Marissa Mayer, the current CEO of Yahoo and the other directors will step down from the board.
It’s important to note that despite these changes the Yahoo brand name isn’t being shelved. Only the part of Yahoo that isn’t being snapped up by Verizon ie the remaining company is turning into Altaba.
That old email address you hardly use will still be @yahoo.com.