Many of Yahoo's top brass, including CEO Marissa Mayer, are expected to leave. But a few current Yahoo execs have already been tapped to take on big roles at the new company.
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There will be an exec shuffle when the Yahoo-Verizon deal closes — here are the details (YHOO, VZ)
When Verizon merges Yahoo with AOL under the new Oath brand after its acquisition of Yahoo closes, there will be a big exec shuffle.
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And Yahoo is expected to announce some of the changes internally as soon as next week, a source familiar with the matter told Business Insider.
Among the major leadership changes planned for the new Oath entity that Business Insider is hearing about:
- a Mayer favorite
- reportedly wants to be a CEO
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It's unclear if the future roles of all Yahoo's execs have been finalized, and some of the planned roles and the timing of the announcement could still change.
Yahoo and Torres declined to comment. The other executives did not respond to requests for comment.
Verizon announced in July that it would acquire Yahoo's core internet business for about $4.5 billion in cash. There have been a few snafus along the way, notably Yahoo's data-breach scandals, but the deal is supposed to close in June.
If Verizon were to lay off staff within the first year, it would have to pay big. As Business Insider has reported, a so-called double trigger provision clause would grant all Yahoo employees a special payout should they lose their jobs quickly after this deal.
However, Mayer reportedly will be one of those who leaves the company and could stand to snag $23 million in severance.
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