Yahoo set to change name to Altaba

Yahoo has plans to change its name to Altaba once its acquisition by US telecoms firm Verizon is complete - although many of its best-known products are set to keep the Yahoo brand.

Alongside the name change, a Yahoo filing at the US Securities and Exchange Commission (SEC) also says that chief executive officer Marissa Mayer, founder David Filo and three other board members are to step down once the deal goes through.

"Tor Braham, Eric Brandt, Catherine Friedman, Thomas McInerney and Jeffrey Smith will continue to serve as directors of the company following the closing, and Mr Brandt will serve as chairman of the board," the SEC filing said.

"Each of David Filo, Eddy Hartenstein, Richard Hill, Marissa Mayer, Jane Shaw and Maynard Webb has indicated that he or she intends to resign from the board effective upon the losing, and that his or her intention to resign is not due to any disagreement with the company on any matter relating to the company’s operations, policies or practices."

It is thought that many Yahoo products, including Yahoo Mail, its search engine, apps and fantasy sports apps, will keep the Yahoo brand.

The company sold its internet business to Verizon for $4.83 billion (£3.97 billion) last year. The deal is set to close in the coming weeks.

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