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Yahoo CEO Marissa Mayer set to step down after Verizon deal

14 March 2017
Yahoo CEO Marissa Mayer will step down from her post as Yahoo CEO after the company’s $4.48 billion Verizon deal closes later this year.

In a filing on Monday, Yahoo said Mayer would receive the $23 million “golden parachute” if her employment was terminated “without cause”.

Thomas J McInerney is set to become CEO of the company.

After the Verizon deal closes, Yahoo will change its name to Altbaba and become an investment company with stakes in Alibaba and Yahoo! Japan.