- Chip Somodevilla/Getty Images
When Verizon merges Yahoo with AOL under the new Oath brand after its acquisition of Yahoo closes, there will be a big exec shuffle.
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.
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:
- Jeff Bonforte, the SVP of communications products, will be the new head of search for the combined entity once the deal closes. SVP Simon Khalaf, who joined Yahoo when his ad tech startup, Flurry, was acquired in 2014, will head up media. Ian Weingarten, the SVP of corporate development and partnerships – and a Mayer favorite – is leaving once the deal closes. Enrique Munoz Torres, the SVP of advertising and search who leads product, will also leave. Lisa Utzschneider, the chief revenue officer who reportedly wants to be a CEO somewhere, will leave as well.
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.