Marissa Mayer may not be part of Oath - Yahoo and AOL's merged entity
Yahoo chief executive Marissa Mayer may not be a part of AOL and Yahoo's merged entity, Oath.
Marissa Mayer may not be part of Oath - Yahoo and AOL's merged entity / Marissa Mayer Yahoo Sale
A report in Recode has hinted that the chief executive will not be continuing with the new Verizon-owned company, the branding of which was unveiled yesterday by AOL boss Tim Armstrong.
Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017. pic.twitter.com/tM3Ac1Wi36
— Tim Armstrong (@timarmstrongaol) April 3, 2017
Citing sources close to the matter, Recode claims that terms of Mayer’s departure are still being worked through, however both Yahoo and AOL have declined to comment.
Reports have suggested Mayer could stand to walk away from Yahoo with a payout of $122m following Verizon’s $4.8bn purchase of the ailing company, however the company has not responded to rumours.
Following the firm's recent hacking scandal Mayer lost her annual bonus, and in acknowledgment of the severity of the incident she volunteered to forgo an annual equity grant; with the money instead being redistributed among Yahoo employees.
Recode claims that Armstrong will lead Oath, which has been rebranded to reflect the combination of AOL and Yahoo, and that he is currently deciding which Yahoo executives to keep on his team.
Both companies are remaining tight-lipped on what the offering will comprise of, with Business Insider alleging that the company will benefit from Yahoo's search, mail, content and adtech business.
A spokeswoman for AOL said in a statement about the new entity: "In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital."