Yahoo's investment wing is changing its name and the company's controversial CEO will be gone according to newly released details of the once-mighty search engine's sale to the US telecom giant Verizon.

Your grandmum or whoever still uses the Yahoo search engine will still be able to find it and their Yahoo email in the usual web portal.  That part of the company is being sold to Verizon for more than AU$6.5 Billion, which will keep Yahoo brands such as Yahoo Finance and Yahoo Sports.  The search engine, email service, and news services will continue to exist but will be integrated with Verizon-owned AOL.  Verizon also gets the digital advertising operation.

According to documents filed with the US Securities and Exchange Commission, the rest of the company is not being sold and it will now be known as "Altaba".  This includes a 36 percent stake in Yahoo Japan, a 16 percent stake in Alibaba, and the company's patent portfolio. 

Only five board members will remain at Altaba, and that does not include CEO Marissa Mayer.  She came from Google in 2012, when Yahoo had already been usurped as a major Silicon Valley force, and was tasked with making the company great again.  Three years, 53 questionable acquisitions, and 1,500 layoffs later, Yahoo reported a gigantic loss - almost AU$6 Billion at the start of 2016.

Late last year, Mayer expressed interest in staying with the company "to see Yahoo into its next chapter".  As of now, it's unclear what role, if any, she will play.