Marissa Mayer to leave Yahoo board after Verizon deal

Yahoo CEO Marissa Mayer will be resigning from the board, along with six other directors - including co-founder David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, and Maynard Webb - after the company sells its assets to Verizon.

In July 2016, Verizon announced the $4.8 billion deal, ending months of speculation of Yahoo's future after it said it was reviewing "strategic alternative" in light of years of management instability, NBC News reports.

It wasn't a seamless process though. Right after the deal was announced, Yahoo claimed that "state-sponsored hackers" infiltrated its system and gained access to data from 500 million accounts, before months later also revealing another billion users had been affected.

This led to some reports saying that Verizon was thinking of pulling out of the deal, or at least asking Yahoo for a $1 billion discount.

[Marissa] Mayer said at the time the deal was announced that she intended to continue as the company's CEO. But in a briefing Monday with the Securities and Exchange Commission (SEC), Yahoo said Mayer and company co-founder David Filo will leave once Verizon takes control of its operating business.

Yahoo! will now be known as Altaba, Inc. - an investment company. Those remaining on the Yahoo board include Eric Brandt, Tor Braham, Catherine Friedman, Thomas Mclerney, and Jeffrey Smith. Yahoo sought to make it clear that the departure of the six directors was not due to any disagreements or issues with the company's policies or operations.

While it's said that Marissa Mayer will depart from the new board after Verizon acquires the firm, there is no official news of whether she will be leaving from the Verizon organization. Venture Beat reports that if it happens, Mayer could receive $55 million.

Venture Beat also reports that shares in Yahoo were up today 0.27 percent to close at $41.34 per share, while Verizon's were down 1.09 percent at $52.68.