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Verizon Closes $4.5B Acquisition of Yahoo, Marissa Mayer Resigns (techcrunch.com)

Posted by msmash on from the end-of-an-era dept.

An anonymous reader shares a TechCrunch article: After Yahoo shareholder approval last week, Verizon today announced that it has finally closed its acquisition of Yahoo, which it plans to combine with its AOL assets into a subsidiary called Oath, covering some 50 media brands and 1 billion people globally. It will be led by Tim Armstrong, who was the CEO of AOL before this. As expected, Marissa Mayer, who had been the CEO of Yahoo, has resigned. "Given the inherent changes to Marissa Mayer's role with Yahoo resulting from the closing of the transaction, Mayer has chosen to resign from Yahoo. Verizon wishes Mayer well in her future endeavors," Verizon said in a statement. You can find Marissa in her own words here on Tumblr. It's a long list of the achievements made with her at the helm these last five years, and -- alas -- you will only read of the struggles that Yahoo went through between the lines. The deal, nevertheless, brings to a close the independent life of one of the oldest and most iconic internet brands, arguably the one that led and set the pace for search -- the cornerstone of doing business on the spaghetti-like internet -- at least until Google came along and surpassed Yahoo many times over, and led the company into a number of disastrous and costly attempts to redefine itself, ultimately culminating in the sale we have here today.

5 of 126 comments (clear)

  1. Hey - I hear ... by Hentai007 · · Score: 5, Interesting

    Uber might be in the market for a new CEO - And hiring her would be a great way to get rid of the "sexist" image they've cultivated lately! WIN WIN!

  2. Yep by rsilvergun · · Score: 3, Interesting

    She's somebody's niece or something. It's nepotism (and the ruling class taking care of their own), not sexism.

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  3. Re:Say hello by alvinrod · · Score: 4, Interesting

    I think that in order to really want to be a CEO of a big company like that (which you didn't found yourself) you pretty much have to be a sociopath, or pretty close to one in a lot of ways. I think that explains why they just won't quit, because its about the power. The money is just a convenient way of keeping score.

  4. Re:Say hello by Muckluck · · Score: 4, Interesting

    Actually, that is only part of it. It is a sort of balance between three personality traits - the "Dark Triad". From Wikipedia: The dark triad is a subject in psychology that focuses on three personality traits: narcissism, Machiavellianism, and psychopathy. Use of the term "dark" implies that people possessing these traits have malevolent qualities. Many if not all CEOs tend to have a balance of these qualities. Where they fall within the triangle often helps define their own success and the company's success.

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  5. Re:Say hello by g01d4 · · Score: 3, Interesting

    Youth and gender were likely a factor in her hiring. These components were to be integrated with the brand being promoted. It was effectively a band-aid covering what was hoped to be the healing wound of the Yahoo brand. Her competence was on par with her peers and removing her would have been like tearing the band-aid off before the wound had healed. Verizon's changing the wound treatment.

    What I've yet to understand is what unique or special skills these CEOs have that justify their compensation outside articulation combined with excessive ambition.