Marissa Mayer will not be CEO of remaining pieces of Yahoo that aren't being sold to Verizon, the company said Monday in a regulatory filing. It's not yet clear if she will remain with the search and news business that Verizon is acquirng.
Mayer will receive a severance package worth about $23 million, the filing says.
The new company formed out of Yahoo, Altaba, will be led by CEO Thomas J. McInerney, the former CFO of IAC. Yahoo's CFO Ken Goldman will also step down after the sale closes. He'll be replaced by Alexi Wellman. Wellman is currently Yahoo's global controller.
Mayer and Goldman will continue to serve as CEO and CFO of Yahoo, respectively, until the deal closes.
Verizon and Yahoo reduced the value of the deal by $350 million after Yahoo disclosed data breaches that affected hundreds of millions of users. An investigation into the data breaches found that Yahoo executives didn't "properly comprehend or investigate" the attacks. As a result, Yahoo's general counsel Ronald S. Bell resigned and Mayer did not receive her 2016 cash bonus of up to $2 million. Mayer also voluntarily gave up her 2017 bonus and equity grants.
It's unclear if Mayer will stay on at Yahoo in any capacity after she steps down from the CEO role at Altaba, however Mayer previously said she planned to stay. A Yahoo spokesperson declined to comment.
Clarification: A previous version of the story said Mayer won't be CEO of Yahoo. Mayer is stepping down from the portion of Yahoo that will become Altaba. Her role at what remains of Yahoo under Verizon is unclear.
This post originally appeared on Business Insider.