We all know that Yahoo Inc. has been officially disclosed in SEC filling on January 09, 2017 and the remains of this company are now part of Verizon. Verizon has purchased Yahoo’s core business and now it will be called as “Altaba” with this the number of board of directors will also be reduced. In July 2016, Verizon confirmed it plans to acquire one of the most internet vulnerable company ‘Yahoo’ for $4.8 billion. Yahoo has been divided into two parts, one of the part is been acquired by Verizon and the other remaining 15% part which includes retail online website Alibaba and part of Yahoo Japan will now be operated under the name ‘Altaba.’
Only the company will be re-branded as Altaba, the search engine, blogs, web portal, and other features will still be known as “Yahoo”. Talking about the reduction of board of directors it is reported that, the number of directors have been reduced to five Tor Braham, Eric Brandt, Catherine Friedman, Thomas Mclnerney, and Jeffery Smith are the five remaining Board of Directors. While CEO Marissa Mayer, Richard Hill, Jane Shaw, Maynard Web, Eddy Hartenstein and other remaining directors have resigned. According to Yahoo filling, “The departures are not due to any disagreement with the company on any matter relating to the company’s operations, policies or practices”. This acquisition is not going smoothly as the previous hacking attack on Yahoo hasn’t made a good impression on Verizon. It is reported that Verizon has became cold feet about its purchase. Verizon is still investigating this hacking. For stockholders, it is advised that they should read Yahoo’s primarily proxy statement before making any decisions about investment.
These above mentioned changes will occur only if Verizon officially closes the deal. There are chances that the terms and conditions of the deals could be amended or may be the deal could be called off. But if this acquisition happens than Yahoo will be called as ‘Altaba’.