Yahoo has announced that, pending its sale to Verizon, the company will change its name to Altaba Inc.
The company also announced that six board members – David Filo, Eddy Hartenstein, Richard Hill, Marissa Mayer (CEO), Jane Shaw, and Maynard Webb – will step down following the sale.
“The Yahoo board has determined that, immediately following the sale, the size of the board will be reduced to five directors,” said Yahoo.
The five remaining board members will be Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney, and Jeffrey Smith. Brandt will serve as chairman of the board.
Yahoo said none of the board members resigned because of “any disagreement with the company on any matter relating to the company’s operations, policies, or practices”.