Yahoo! (YHOO) CEO Marissa Mayer and company co-founder David Filo will step down from the tech company's board upon the closing of its $4.8 billion sale to Verizon Communications (VZ - Get Report) of core assets.
The moves, which will also see chairman Maynard Webb, former chairman Eddy Hartenstein and board members Jane Shaw and Richard Hill leave Yahoo!, were disclosed in a securities filing Monday. Eric Brandt, the former CFO at Broadcom (AVGO - Get Report) , will replace Webb.
Mayer took over the executive suite at the Sunnyvale, Calif.-based company in 2012, coming from Alphabet's (GOOGL - Get Report) Google unit. Her tenure was marred by two different security breaches which demonstrated that the Silicon Valley company was perhaps not as technologically sound as expected.
When the Yahoo! sale to Verizon is completed, the remaining Yahoo assets will remain as an investment holding firm to be renamed Altaba.