Published: Tue, March 14, 2017
Economy | By Melissa Porter

Yahoo's Marissa Mayer Won't Stay At Altaba After Asset Sale To Verizon

Yahoo's Marissa Mayer Won't Stay At Altaba After Asset Sale To Verizon

Yahoo CEO Marissa Mayer isn't going to be walking out of that job empty-handed. Mayer's departure from the company is not much of a surprise as it was revealed back in January that she would be leaving Yahoo and would have no part of its merger with Verizon.

As The Wall Street Journal reports, most of Yahoo's value stems from its stakes in Alibaba and Yahoo Japan, not the core business being sold to Verizon.

Yahoo - under the leadership of Marissa Mayer - agreed to the sale of the company's core internet assets previous year after a turnaround effort fizzled.

No exact date has been given, but it's expected to happen sometime after Verizon finalizes its purchase of Yahoo.

Verizon has said it is mostly interested in the Yahoo's desktop and mobile sites, which it plans to fold into Aol to create a handful of properties it can flog to advertisers ®.

Whether Mayer will have any future role in Verizon or Altaba is unclear.

Verizon's deal to acquire Yahoo was reduced by $350 million in February after the internet company admitted to two massive data breaches that affected more than a billion users. As of last May, she was estimated to receive a $55 million severance package if she was sacked after the sale, according to Variety. The No. 1 US wireless carrier had been trying to persuade Yahoo to amend the terms of the agreement following the attacks.

Ms Mayer said she would forgo a bonus for 2016 of $2m and at least $12m in equity awards because executives had failed to take appropriate action under her tenure.

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