Marissa Mayer will resign from Yahoo’s board of directors and the company itself will be renamed Altaba Inc., according to documents filed with the SEC today.
The documents state that following the close of Yahoo’s $4.8 billion sale to Verizon—which, by the way, is still up in the air—Mayer and several other members of the board will resign. The filing also take pains to emphasize that the departures are not “due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”
Besides Mayer, David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, and Maynard Webb all plan to resign from the board. In addition, the board intends to rename the shell of Yahoo Altaba Inc., which will certainly join the sad exclamation point in Yahoo’s Hall of Unfortunate Nomenclature.
It’s still unclear what role Mayer will have within the new company—if any at all—but at least she probably has that sweet severance package to fall back on.
Update 6:50 pm: When asked about Mayer’s future at the company, a spokesperson wouldn’t offer up much detail. Instead, they pointed us to the for-now CEO’s Tumblr post following the Verizon acquisition announcement in which she wrote simply, “It’s important to me to see Yahoo into its next chapter.”