Mayer Exits as Verizon Completes Yahoo Acquisition

It's out with the one-time and in with the new for Yahoo. That ways shedding a CEO and its old identity, and officially gaining a new parent: Verizon.

Xi months after revealing its intent to acquire Yahoo, Verizon on Tuesday announced that it's a done deal. Yahoo will now be combined with AOL, which Verizon bought in 2022, to become Adjuration, every bit planned.

As part of this transition, former Yahoo CEO Marissa Mayer is exiting the company. "Given the inherent changes to Marissa Mayer's function with Yahoo resulting from the closing of the transaction, Mayer has chosen to resign from Yahoo," Verizon said in its announcement. "Verizon wishes Mayer well in her hereafter endeavors."

In a weblog post Tuesday, Mayer, a former Google exec who joined Yahoo as CEO in 2022, said today "marks the finish of an era for Yahoo, every bit well every bit the beginning of a new affiliate," adding that "it's an emotional fourth dimension for all of the states.

"I want all of yous to know that I'thousand brimming with nostalgia, gratitude, and optimism," she wrote. "It'southward been my great honor and privilege to be a part of this squad for the last 5 years."

Mayer went on to say that Yahoo has "confronted seemingly insurmountable business challenges, along with many surprise twists and turns" during her tenure. Chief amid those challenges were massive data breaches, which caused Verizon to reduce its purchase cost of Yahoo by $350 million.

With this new proper noun Oath, Verizon is manifestly trying to restore user trust following Yahoo'south security breaches. More than than l media and technology brands now sit down under the Oath umbrella, including HuffPost, Yahoo Sports, AOL.com, Tumblr, Yahoo Finance, and Yahoo Mail. Former AOL CEO Tim Armstrong will serve every bit CEO of Oath, which is part of Verizon'south Media and Telematics organization.

"Now that the deal is closed, we are excited to set our focus on being the best company for consumer media, and the all-time partner to our advertising, content and publisher partners," Armstrong said in a statement.

About Angela Moscaritolo

Angela Moscaritolo

Angela Moscaritolo is PCMag's good on fitness and smart home products. Teaching yoga for nearly ten years has helped her in evaluating a range of connected wellness products including fitness trackers, heart rate monitors, rowers, smart scales, stationary bikes, forcefulness training machines, treadmills, and more than. Angela too tests smart home devices from her ranch in Florida, including air purifiers, kitchen appliances, and robot vacuums, just to name a few.