Yahoo has announced renaming the company to Altaba, following the merger with Verizon. The name change was revealed in a Securities and Exchange Commission (SEC) filing by the company. It also revealed the company's plans to limit its board to five members, and stepping down of current CEO, Marissa Mayer.
To recall, Verizon had agreed to purchase Yahoo for $4.83 billion. The deal will see Verizon acquire Yahoo’s email and brand services, as well as Yahoo’s Brightroll programmatic ad services. As per the deal, Yahoo will be merged with AOL, which was also acquired by Verizon in 2015. The deal is expected to be closed in the first quarter of 2017.
Last month, Yahoo revealed additional information about the data breach that initially occurred in August 2013. The company said that the new breach does not involve any payment details, and was different from another data breach that was announced in September.