Hurray Inc said that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would venture down from the board after the finalizing of its negotiations with Verizon Communications Inc.

Yippee has an arrangement to offer its center web business, which incorporates its advanced publicizing, email and media resources, to Verizon for $4.83bn dollars.

The terms of that arrangement could be altered – or the exchange may even be canceled – after Yahoo a year ago unveiled two separate information ruptures; one including somewhere in the range of 500 million client accounts and the second including over a billion.

Verizon officials have said that while they see a solid key fit with Yahoo, they are as yet researching the information ruptures.

Five other Yahoo executives would likewise leave after the arrangement closes, Yahoo said in an administrative documenting.

The rest of the executives will oversee Altaba, a holding organization whose essential resources will be a 15 for every penny stake in Chinese web based business organization Alibaba Group Holding Ltd and 35.5 for each penny stake in Yahoo Japan.

The new organization likewise named Eric Brandt administrator of the board, successful Jan. 9.