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Japan; following the completion of the acquisition, these assets will be retained under the name Altaba, with a new executive team.On December 14, 2016, the company revealed that another separate data breach had occurred in 2014, with hackers obtaining sensitive account information, including security questions, to at least one billion accounts.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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Yahoo formally rejected the bid, claiming that it "substantially undervalues" the company and was not in the interest of its shareholders.Tumblr's CEO and founder David Karp would remain a large shareholder.

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