The dust is finally settling on the long-awaited Yahoo-AOL merger, but the new company won’t have a familiar face from Yahoo on board. Current Yahoo CEO Marissa Mayer will not join Oath, the joint company formed by the Yahoo-AOL merger, and plans to leave in June, USA Today reported.
While Mayer was long expected to step away from Yahoo following the merger, her exact plans were indefinite. As USA Today noted, Oath is officially expected to confirm the news when the company announces its leadership team Tuesday. Along with Mayer, most of Yahoo’s executive staff is expected to leave.
Oath, which AOL CEO Tim Armstrong announced on Twitter earlier this month, will be a subsidiary of Verizon. The joint company is also expected to be a play for Verizon to bolster its assets and presence in the online advertising market. Yahoo assets not purchased by Verizon will be spun off into a separate holding company called Altaba.
Mayer originally joined Yahoo in 2012 after a long stint at Google in various executive roles. During her tenure as CEO, the former search giant struggled to maintain its presence against competitors like Facebook and Google.
The search company also bore the brunt of two massive data breaches involving Yahoo user information. The late disclosure of these hacks was controversial for Yahoo and produced a $250 million discount on the purchase price for Verizon.