Yahoo CEO Marissa Mayer will resign from the board of the rump of Yahoo when Verizon finally completes its acquisition of the company’s web portal, search engine, email service and news services.
Verizon will merge the Yahoo-branded web properties with AOL, which includes advertising sales platforms and websites such as The Huffington Post , TechCrunch and Engadget .
Mayer, one of the highest paid CEOs in the S&P 500 index of the biggest companies in the US, will walk away with an estimated $55m as a pay-off.
The non-Yahoo remains of the company, which Verizon isn’t taking over, will be renamed « Altaba ». Mayer – and five others – will resign from the board at the same time.
The company will continue to operate as an investment company under the US Investment Company Act of 1940 after Verizon has finally signed on the dotted line.
The remaining parts of Yahoo will consist of its 16 per cent stake in Chinese ecommerce website Alibaba, which is worth around $30bn; a 36 per cent stake in Yahoo Japan, where the Yahoo brand remains popular and Yahoo’s stake is valued at about $8.6bn; and, a portfolio of patents that the company attempted to sell for around $1bn in the summer , but which failed to drum-up sufficient interest.
Part of the reason for that is that pinning a value on the portfolio is particular difficult, especially with a lot of ageing patents from the 1990s, which may well be contestable if asserted.
The news is contained in a filing with the US stock market regulator , the Securities and Exchange Commission.
The filing indicates that Verizon is on course to complete the acquisition, despite frequent suggestions that it may pull out or haggle over the price following a series of security disclosures.
The company, one of the first big internet companies of the 1990s dot-com boom, made a series of mistakes as it faded alongside nimbler and arguably smarter start-ups, including Google, Instagram, Facebook and Skype.
It effectively put itself up for sale after Mayer’s efforts at reinvigorating the company, after she was appointed CEO in 2012 , had little effect on its fading position.

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Everything from the biggest tech show!
Our editors bring you complete coverage from the 2017 International CES, and scour the showroom floor for the hottest new tech gadgets around.

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Virtual reality, robots and drones – there’s never a dull moment at the Consumer Electronics Show, and 2017’s event offered plenty of weird scenes for attendees to take in.
Polaroid wins for the strangest booth exhibit. It assembled a giant tree-house carousel with chimps dressed as people using its Cube cameras – an extremely creepy sight.
Sharper Image’s massage parlor attracted a slew of folks looking to kick off their shoes and receive a variety of body-specific massaging tools. The booth offered hand massagers, head massagers, and full-body massage pods that rotated up and down with users inside.
It’s hard to look normal when doing anything in virtual reality, but fighting someone in a virtual landscape appears particularly strange to onlookers. Samsung offered attendees to chance to battle with an opponent through its virtual headsets.
Virtual reality also came in the form of several driving simulations from Ford and others, and some were better executed than others.
One particularly strange offering was to let attendees « meet themselves in art.  » A computer used facial recognition to match a user’s features to features in a historic painting – and the results were not always flattering.

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Intel’s Brian Krzanich has promised that Cannon Lake, the company’s first processor based on a 10nm manufacturing node, will launch before the year is out – two years after its original launch window. Intel has seemingly resolved its ongoing problems transitioning to a 10nm semiconductor manufacturing, promising to launch its eighth-generation Cannon Lake Core chips before the end of the year.
The move from 14nm to 10nm manufacturing nodes has not been smooth for Intel. The company’s original roadmap called for the first 10nm chips to launch in 2015, but despite considerable investment the transition did not go well. By June 2015, rumours were spreading that Intel was going to miss the launch, while in July Intel’s Brian Krzanich confirmed that the launch of the 10nm ‘Cannon Lake’ processors would have to be pushed back to some time in the second half of 2017.
The issues surrounding the 10nm transition – which were also felt during the development of the 14nm Broadwell parts, delayed to 2014 thanks to the increasingly complex physics surrounding ever-smaller components – have had a serious effect on Intel’s development process. In March last year, Intel announced it was killing off the tick-tock development cycle it had rigorously adhered to earlier in the Moore’s Law difficulty curve: Instead of releasing a revised architecture one year followed by the same architecture on a smaller process node the year after, Intel’s new approach extends the life of each node by concentrating more on architectural improvements.
Now, though, Intel is confident that it has the 10nm issues resolved – so confident, in fact, that Intel’s Brian Krzanich took to the stage at the Consumer Electronics show to promise that the first Cannon Lake parts would appear before the end of this year – despite having only just brought the 14nm Kaby Lake architecturally enhanced processor family to the open market.
The announcement brings Intel’s semiconductor manufacturing technology back on a level playing field with the like of TSMC , but former AMD manufacturing arm GlobalFoundries is claiming to be skipping 10nm in favour of jumping to 7nm with the first chips due to enter production in 2018.

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Marissa Mayer is getting ready to say goodbye to Yahoo’s board, but not necessarily to the Yahoo brand.
The company said in a U. S. Securities and Exchange Commission filing Monday that it will shed almost everything that makes it Yahoo, including its name, when its deal with Verizon closes.
If you’re a Yahoo shareholder, you might notice the difference, but for Yahoo users, the consequences of Monday’s filing are minimal.
Yahoo the company has two major assets: a worldwide network of internet portals, and a 15 percent stake in Chinese internet giant Alibaba worth many times that. When a plan to sell off the Alibaba stake ran into tax complications, the company pivoted , instead striking a deal to sell its portals, its brand — almost everything but the Alibaba stake, in fact — to Verizon.
Verizon is expected to merge Yahoo’s portal activities with AOL, which it bought in 2015 .
In July, just after Verizon announced the Yahoo deal, AOL CEO Tim Armstrong told TechCrunch: « The Yahoo brand will be staying with us for a very long period of time, we’ll be investing in it.  »
He was positive about his relationship with Mayer — « I think we’ll be able to work very well together, » he said.
At the time, Mayer told CNBC’s « Squawk on the Street » that « I love Yahoo, and I want to see Yahoo into the next chapter.  »
In the months since then, Yahoo has admitted to two of the biggest data breaches ever. In September, it acknowledged that details of 500 million accounts had been stolen. In December, it said that details of 1 billion accounts were stolen in a separate incident.
News of the breaches tarnished Yahoo’s brand and the reputation of its management team and prompted reports that Verizon was seeking to renegotiate or even abandon the deal.
Monday’s filing with the SEC making preparations for the deal, though, indicates that it is still on.
Sparing us the confusion of differentiating between Yahoo the brand on the one hand, and Yahoo the company on the other, the company plans to rename itself Altaba once the deal goes through.
Once Verizon takes over the Yahoo portals and brand, Altaba’s main purpose will be as an investment vehicle for stakes in Alibaba and in Yahoo Japan, an independent company of which Yahoo only owns 35.6 percent. Most of the rest is owned by Softbank Group, the Japanese company that also owns U. S. telco Sprint and chip designer ARM.
Rules for investment companies mean Altaba will be able to operate with a smaller board after the Verizon deal closes, and so, « immediately following the closing, the size of the Board will be reduced to five directors, » from 11 today, the company said in its SEC filing on Monday. In that case, Mayer and five others will resign, it said.
Verizon declined to comment on Yahoo’s SEC filing and Yahoo itself was not immediately available to answer queries. AOL’s Armstrong, though, appears to still be positive about his working relationship with Mayer. In December, Armstrong told Business Insider that while he could not speak for Mayer, he wanted her to continue to develop Yahoo’s activities at Verizon: « Hopefully, as we go forward, Marissa will play a role in getting Yahoo to the next generation of what Yahoo is going to be, » he said.
So really, it’s not Yahoo, but Altaba, that Mayer would be leaving. And she’ll be taking most of Yahoo with her.

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