Yahoo CEO Marissa Mayer will leave the company's board of directors following its planned merger with Verizon, the company announced in an SEC filing on Monday. The company's assets that are not involved with the Verizon sale will also become a separate holding company called Altaba, according to a report from Marketwatch.

Along with Mayer, Yahoo! board members David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw and Maynard Webb will also resign when the sale closes. The filing notes that these resignations are not "due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices." 

The merger with Verizon is currently in its final stages, but the process hasn't been without its issues. In December, Verizon looked into either renegotiating the terms of the sale or backing out entirely following news of the company's email hacks.

The news is also the latest turn in Yahoo's continuing problems. Since joining Yahoo in 2012 from Google, Mayer was tasked with turning around the company's stagnant growth. However, her tenure has been marked by various struggles, with high-key controversies like its 2014 data breach punctuated by general investor unrest.

Stay with IBTimes for updates.