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Verizon Closes $4.5B Acquisition of Yahoo, Marissa Mayer Resigns (techcrunch.com)
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.
Normally I'd suspect that as well, however the world of CEOs runs by a different set of rules.
So probably nothing would change. How many countless companies have we watched driven into the ground by incompetent CEOs only to watch them land safely at another company only to repeat the process. Gender doesn't seem to have anything to do with it.
Mod me down with all of your hatred and your journey towards the dark side will be complete!
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!
Under Marissa's tenure, the valuation of Yahoo went from $20 Billion to $49 Billion which is pretty damn impressive for a five year stretch. Why is everyone so anti-Marissa here on Slashdot, saying she ran the company into the ground?
> That my friend is the difference between you, and I (the peons) and the
> CEOs of the world. The driven continue to be driven, not just by money,
> but by their desire to create, innovate, and sometimes destroy.
BULL FUCKING SHIT. I *might* believe that for a *second* if they didn't ALSO get paid RIDICULOUS sums, REGARDLESS of their performance. Or did you miss the news that she will walk away with $186 million?
Show me an America CEO who makes within TWO ORDERS OF MAGNITUDE what the average employee earns and I *might* believe that they're doing it for anything other than the money.
Think she doesn't like money? Maybe she'll share her newfound wealth with the 2,100 who were laid off last week. $186 million divided by 2,100 = $88,571 per employee.
Or share some with these people. (Feb 2016)
Or these people. (April 2015)
Or these people. (June 2013)
Don't you fucking DARE tell me that she is more driven by a desire to create or innovate than any of those THOUSANDS of people -- that THEY were only driven by money. Becoming CEO is basically like winning the lottery.
By the way, she was already worth $540M last week.
Add today's $186M and she's now around $720M. She's three-quarters of a BILLIONAIRE. But she's not driven by money -- just her desire to create and innovate. Gotcha. Too bad for the thousands of shallow, selfish former Yahoo employees who were only driven by money.
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