Yahoo to change name, lose Mayer after sale

Yahoo CEO Marissa Mayer will leave the board of the company once its planned merger with Verizon in complete, according to a company filing with the Securities and Exchange Commission.

Mayer, Yahoo cofounder David Filo and four other board members will step down upon completion of the planned $4.8 billion merger, the company said Monday.

{mosads}It noted that the future departures are “not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”

The document also declares that the portion of the company that’s not going to Verizon will be renamed Altaba.

In September, Yahoo confirmed that it had fallen victim to the largest cyberattack of a single company, with data from 500 million accounts stolen in 2014. In December, Verizon hinted it was considering ways lower the price of its planned purchase after disclosure of another hack of 1 billion users.