Yahoo CEO Marissa Mayer is to resign from the board of the company once the sale of its core internet businesses to Verizon is concluded.

After the departures, Altaba's board will have five members: Tor Braham, Catherine Friedman, Thomas McInerney, Jeffrey Smith and Eric Brandt, the latter of whom will serve as Chairman of the Board.

Venture Beat also reports that shares in Yahoo were up today 0.27 percent to close at $41.34 per share, while Verizon's were down 1.09 percent at $52.68.

Verizon executives have said that while they see a strong strategic fit with Yahoo, they are still investigating the data breaches. She is expected to remain in both positions until the Verizon deal closes.

"For me personally, I'm planning to stay", Mayer said in the post.

The internet firm has sold its core digital service to Verizon, including its digital advertising, email, websites, mobile apps, and other media assets.

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What do you think about Yahoo? Verizon reportedly considered asking for a discount on the $4.8 billion deal after the breaches were disclosed, and a discounted price may still be announced before the deal closes.

While Mayer is stepping down from the board, she will continue as CEO of Yahoo and may even remain as an executive after the Verizon acquisition is concluded.

Also leaving the board of directors if the sale goes through are chairman Maynard Webb and three others with ties to the company.

The new name is meant to reflect Yahoo's transformation into a holding company for investments in China's e-commerce leader, Alibaba Group, and Yahoo Japan that are worth about more than $40 billion combined. There is some doubt, however, about whether that deal will go through due to a sizable Yahoo hack announced last month.

Remaining on the board will be Jeffrey Smith, chief executive of hedge fund Starboard Value, which past year forced Yahoo to give it four seats on the board.