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Marissa Mayer's time as Yahoo's CEO is officially over, following 's announcement Tuesday that it has closed its acquisition of .
Mayer, who will leave with a $23 million paycheck, recently published her goodbye letter on Tumblr, reflecting on the past five years with Yahoo.
Here's the full text of the letter:
The Yahoo-Verizon transaction closed this morning. Here's the email that I sent to company, looking back at the last 5 years and the company's whole history.
323 days ago, we announced that Verizon would be acquiring Yahoo's operating business. Today, I can announce that the transaction has officially closed. While reaching this moment has certainly been a long road traveled, it marks the end of an era for Yahoo, as well as the beginning of a new chapter – it's an emotional time for all of us. Given the inherent changes to my role, I'll be leaving the company. However, I want all of you to know that I'm brimming with nostalgia, gratitude, and optimism.
It's been my great honor and privilege to be a part of this team for the last 5 years. Together, we have rebuilt, reinvented, strengthened, and modernized our products, our business, and our company.
Looking back on my time at Yahoo, we have confronted seemingly insurmountable business challenges, along with many surprise twists and turns. I've seen our teams navigate these hurdles and mountains in ways that have not only made Yahoo a better company, but also made all of us far stronger. During these past 5 years, we've built products that delight our users, focused on our clients' businesses, driven substantial value for our shareholders, and endeavored to make Yahoo the absolute best place to work. I want to take a moment to remind you of some of our many achievements together. They are remarkable, and we should all be very proud.
To our users: We have enhanced our products to be far more modern and engaging, especially for mobile
To our advertisers: We completely rebuilt our advertising business, putting our clients first
To our shareholders: Our stock has hit a 17-year high, more than tripling since July 2012
To our employees: We've helped bring to life the best of Yahoo's culture
As I look back on these achievements, I want to sincerely thank every single Yahoo employee, past and present, for your contributions both large and small. I'm tremendously grateful for all of the hard work and the many sacrifices you've made. We always endeavored to do the right thing for our users, advertisers, shareholders, and fellow Yahoos. This has required the most impressive displays of teamwork, innovation, and resilience I've ever seen, and working with you has made my time as CEO nothing short of a privilege.
Finally, I want to thank our founders, Filo and Jerry. Every entrepreneur's wildest dream is to change the world with their ideas, and you've done just that. From day one, your tenacity and whimsy helped create one of the most special companies of all time – one that has employed more than 175,000 people, generated over $77B in revenue, and has informed, connected, and entertained a large portion of humanity. You've inspired all of us with your brilliance, values, and passion, and I will forever be in awe of you and I will forever be your biggest fan :-)