Yahoo! announced that it has completed the sale of its operating business to Verizon Communications and from June 16, will change its name to Altaba Inc. Upon the closing of the sale, each of David Filo, Eddy W. Hartenstein, Richard S. Hill, Marissa A. Mayer, Jane E. Shaw, Jeffrey C. Smith and Maynard G. Webb, Jr. resigned from the company's board of directors. The remaining directors are Eric K. Brandt (Chairman), Tor R. Braham, Catherine J. Friedman and Thomas J. McInerney.

Also upon the closing, Mr. McInerney became the company's Chief Executive Officer, Alexi A. Wellman became its Chief Financial and Accounting Officer, and DeAnn Fairfield Work became its Chief Compliance Officer. Arthur Chong continues to serve as the company's General Counsel and Secretary.