Information received from a regulatory filing on Monday showed that a top member of Yahoo’s Board of Directors will be resigning (NASDAQ: YHOO) . Embattled CEO Marissa Mayer will no longer be a member of the board along with several other people who will also vacate Altaba. These members are Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith. The removal comes on the heels of the huge $4.8 billion deal with mobile phone provider Verizon.
Yahoo had made a deal in 2016 with Verizon valued at about $4.8 billion. The deals are said to be in jeopardy now due to recent hacks of data on two separate occasions according to Yahoo. Verizon is said to have the option of terminating the deal or adjusting the price with Yahoo due to the attacks.
In 2013, it was reported by the company that hackers got into about 1 billion accounts held by Yahoo users. Data that was compromised included user email addresses, account passwords and dates of birth which could lead criminals to further information available online. Hackers could use the data found in the yahoo attack in other places to possibly gain more information or do harm. Another attack reported by the web company said that a separate attack happened in 2014 which resulted in up to 500 million accounts being hacked.
Verizon closed on a deal with the company to buy Yahoo’s operating business but will not include the Chinese e-commerce giant Alibaba. That entity and partnership in Yahoo Japan will remain with Yahoo as a separate company.
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