Yahoo CEO Marissa Mayer resigns, cites achievements by fallen firm as Verizon deal closes

Verizon officially closed its $4.5 billion agreement to purchase Yahoo. Yahoo CEO Marissa Mayer announced her resignation in a message to employees. “It’s an emotional time for all of us,” Mayer wrote in a blog post. “Given the inherent changes to my role, I’ll be leaving the company. However, I want all of you to know that I’m brimming with nostalgia, gratitude, and optimism.”

“Yahoo’s imprint and impact on the valley will long outlive its own history,” said Silicon Valley Leadership Group CEO Carl Guardino. “For so many years, (its) creative culture and the individual leaders left an indelible mark on the valley.”

Yahoo’s drawn-out, painful demise seemed as much about the laws of nature as the laws of business, as it struggled in vain to keep its strength while a wily predator gobbled up its sustenance. Once that upstart Google came onto the internet scene with a better algorithm for searching, Yahoo’s kicking and flailing at a digital advertising market that had left it behind provided drama that time after time captivated Silicon Valley. It made for an epic tale that showcased the power of rapidly changing technology to both create and destroy.