Altaba. This six-letter word is yet to be the new name of our childhood-favorite search engine tool, Yahoo. People rendered speechless upon hearing the news as six Yahoo board of directors will soon resign from their positions, including its CEO Marissa Mayer and its founder David Filo. The board’s resignation is “not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” Yahoo states on its SEC filing on Monday.
These huge changes will be put to effect after the $4.8 billion merger with the telecom company Verizon is finalized. The deal only comprises the procurement of Yahoo’s consumer web business, Yahoo Mail and Sports. Not the entire Yahoo enterprise.
The remaining sectors of the company after the said deal will be named Altaba. Those sectors of Yahoo are still of great significance to other investors since these have shares from the Chinese e-Commerce kingpin Alibaba, hence the new name Altaba.
Big changes are bound to happen with Yahoo this year, with new set of board members, a new CEO, new regularities, new challenges, AND new chances. That is possibly the best part of this realignment – a new line of chances awaits. But at the end of it all, we will definitely miss the old Yahoo.
If you want to know more about what happened, visit Investopedia and click here.