Yahoo is making some major changes.
A recently released Securities and Exchange Commission filing revealed that Yahoo is changing its name to Altaba after its merger with Verizon. In addition, CEO Marissa Mayer and half of the current board of directors plan to step down.
Of course, not all of these changes are exactly unexpected. Yahoo has been struggling to stay relevant in an increasingly competitive tech environment for years. But though it acquired many different brands and services, those struggles remained.
And recently, the company experienced a security breach, increasing those struggles in the public perception even further. In fact, that breach could actually call the details of the merger with Verizon into question if it has impacted the company’s value in any significant way.
Sometimes it Takes a Drastic Change in a Business to Succeed
But regardless of those details, Yahoo’s struggles have been well documented. And when a company has tried seemingly everything to make a comeback, sometimes the only thing you can do is make a pretty drastic change in a business. So time will tell if these changes will actually lead to success for Altaba and Verizon. But it was clear that the little tweaks Yahoo was making to stay relevant just weren’t enough.
Yahoo Headquarters photo via Shutterstock