The daily business briefing: January 10, 2017

Yahoo's Marissa Mayer to leave board after Verizon sale, Alibaba founder promises 1 million U.S. jobs, and more

Marissa Mayer, CEO of Yahoo
(Image credit: Mario Tama/Getty Images)

1. Yahoo's Marissa Mayer to leave board

Yahoo CEO Marissa Mayer will leave the company's board after the proposed sale of the internet pioneer's core web properties to Verizon, according to a filing Monday. Five other directors also will go. The move was not a surprise, as the new company will essentially be an investment company holding the remaining Yahoo assets, which include stakes in Alibaba Group Holding Inc. and Yahoo! Japan. The new company will change its name to Altaba Inc. After Mayer's turnaround efforts stalled, Yahoo agreed to sell the internet properties to Verizon for $4.8 billion. Since then, Verizon has questioned whether Yahoo's revelations about two massive hacks of user data had reduced the value of the Yahoo sites.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.