• 07.25.16

How Marissa Mayer and Tim Armstrong shared today’s deal news with their teams

For Yahoo CEO Marissa Mayer, today’s news that she would be selling the company to Verizon for $4.83 billion in cash served as an opportunity to catalog recent accomplishments and take claim of her legacy.  

“We counteracted many of the tectonic shifts of declining legacy businesses, and built a Yahoo that is unequivocally stronger, nimbler, and more modern,” Mayer proclaimed in her memo to Yahoo employees, which she also posted on Tumblr.

But AOL CEO Tim Armstrong, who sold his company for $4.4 billion to Verizon last year and has been tasked with overseeing Yahoo’s integration into the fold, struck a different note. In Armstrong’s memo to AOL employees, published on TechCrunch, he instead looked ahead, calling on employees to share their ideas and think big.

“Our goal is to take a growth mindset to this deal and to our ability to invent and learn,” he wrote. “We have clear goals and a clear mission and we will figure out how to reach those goals by being differentiated, creative, taking risks, and working really hard.”

Mayer will stay on as Yahoo CEO until the deal closes in Q4 2016 or Q1 2017. She has expressed an interest in keeping her job beyond that point, but Verizon says it’s too early to make decisions about leadership roles in that coming chapter. AH