In September 2011 she was removed from her position at Yahoo by the company's chairman Roy Bostock, and CFO Tim Morse was named as Interim CEO of the company.
The deal excludes Yahoo's 15% stake in Alibaba Group and 35.5% stake in Yahoo!
Japan; following the completion of the acquisition, these assets will be retained under the name Altaba, with a new executive team.
The cut was expected to save around $375 million annually after the layoffs were completed at end of 2012.
On May 13, 2012, Yahoo issued a press release stating that Thompson was no longer with the company, and would immediately be replaced on an interim basis by Ross Levinsohn, recently appointed head of Yahoo's new Media group.
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According to third-party web analytics providers, Alexa and Similar Web, Yahoo!
At its height it was one of the most popular sites in the United States.
By 1998, Yahoo was the most popular starting point for web users It also made many high-profile acquisitions.
Its stock price skyrocketed during the dot-com bubble, Yahoo stocks closing at an all-time high of 8.75 a share on January 3, 2000.
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