Yahoo CEO Marissa Mayer and five other executives, including co-founder David Filo, will resign from the company’s board when the company finalizes its $4.8 billion sale to telecommunications giant Verizon.
Board chairman Maynard Webb and three others are stepping down along with Mayer and Filo.
Eric Brandt, a new board member, was named chairman.
According to Yahoo, the resignations are “not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” in a Securities and Exchange Commission document filed late today.
Yahoo will also have a new name: According to the SEC filing, the company would be renamed Altaba after the Verizon acquisition.