Marissa Mayer To Exit Yahoo Board Along With Co-Founder David Filo

An SEC filing says Yahoo CEO Mayer will leave the board when the company's sale to Verizon closes.

Yahoo CEO Marissa Mayer, once tasked with turning the struggling company around, is set to exit the company's board when its sale to Verizon closes, a company SEC filing said today.

The exit of Mayer, along with Yahoo co-founder David Filo and four other board members, will reduce the size of the company's board to five members. Upon closing the deal, Yahoo will take on a new name: Altaba Inc.

Hired in July 2012 to help fix the flailing company, Mayer initially appeared to bring new life to Yahoo with shiny acquisitions, like the $1.1 billion purchase of Tumblr, that got the media and tech world buzzing. But ultimately, Mayer didn't steer Yahoo in a new direction. She'll hand over Yahoo to Verizon in essentially the same shape as she found it: a middling content company that tries to do a lot but excels at little.

As former Arizona Cardinals coach Dennis Green would put it:

Yahoo's final days as an independent company are mired in embarrassment, specifically recent revelations of a massive cyberattack that compromised over 1 billion users' accounts. Verizon is demanding new terms following the damaging news.

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