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Verizon completes Yahoo acquisition; Marissa Mayer resigns as CEO

By TechTaffy Desk

Verizon Communications has completed its acquisition of Yahoo. Marissa Mayer, Yahoo CEO, has resigned from the company.

Verizon has combined the Yahoo assets with its existing AOL business, to create a new subsidiary, Oath. The Oath portfolio includes HuffPost, Yahoo Sports, AOL.com, Makers, Tumblr, Build Studios, Yahoo Finance, and Yahoo Mail, among other properties.

Tim Armstrong, former CEO of AOL, is now CEO of Oath, which is part of Verizon’s Media and Telematics organization. He has been leading integration planning teams since the Yahoo transaction was announced in July 2016, according to a statement from Verizon.

PS: You can read Marissa Mayer’s Tumblr post on her stepping down here.

[Image courtesy: Yahoo]

 

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