Glass cliff refers to a situation where women are promoted to high positions during times of crisis, when the possibility of them failing is a lot higher.
"As CEO, these thefts occurred during my tenure, and I want to sincerely apologise to each and every one of our users, she told the Senate Commerce Committee, testifying alongside the interim and former CEOs of Equifax Inc and a senior Verizon Communications Inc executive.
The completion of the acquisition marked the end of Yahoo as a stand-alone internet company, a tech pioneer once valued at more than $100 billion.
Today's closure of the sale ends Yahoo's 21-year history as a publicly traded company. It also ends the nearly five- year reign of Yahoo CEO Marissa Mayer, who isn't joining Verizon.
Mayer is expected to remain with Yahoo's core business, which is being bought by the US telecom titan. Yahoo is selling its internet operations as a way to separate that from its more valuable stake in Chinese internet giant Alibaba.
Yahoo has a deal to sell its core internet business, which includes its digital advertising, email and media assets, to Verizon for USD 4.83 billion.
The company complied with a classified US government demand, scanning hundreds of millions of Yahoo Mail accounts at the behest of the National Security Agency or FBI, said three former employees and a fourth person apprised of the events.
Yahoo, which was the entry door to the Internet for an early generation of Web users, will be integrated with AOL under Marni Walden, EVP and President of Product Innovation and New Businesses organisation, at Verizon.
Marni Walden, Verizon president of product innovation and new businesses, said that the deal included Yahoo's core operating business and patents.
Through disciplined expense management and focused execution, we delivered Q2 results that met guidance across the board and in some areas exceeded it." But Yahoo's future is far from certain, amid intense speculation about efforts to sell its main assets.
CNBC, citing unnamed sources close to the situation, said Yahoo's board of directors will meet tomorrow to review offers ahead of a final round of bidding expected to lead to a decision by mid-July.
Microsoft's move is an attempt to ensure a good relationship with Yahoo's buyer, the website reported.
Yahoo shares jumped after the company announced its board has formed a committee of independent directors to explore strategic alternatives, and that it has hired investment banks and a law firm to run the process.
The layoffs take effect April 11 and affected employees received 60-day advance notice of the move, Yahoo said in a notice filed with the California Employment Development Department.
The plans are expected to be announced after Yahoo's fourth-quarter results on Tuesday, the Journal reported, citing people familiar with the matter. It did not specify which business units might be closed.
The sale of its core business, and its stakes in Alibaba and Yahoo Japan, could see Yahoo's stock price jump to USD 40 a share, an almost 35 percent gain from Friday's close of USD 29.14.
The moves represent a stark rejection of Chief Executive Officer Marissa Mayer's plan to sell the USD 30 billion Alibaba stake, and revive the core Internet unit focusing on growing mobile, video and social media ads.
Verizon's Shammo was speaking at the UBS annual global media and communications conference in New York.
A hedge fund with a stake in Yahoo urged the Internet giant last month to drop its planned spinoff of its stake in China's Alibaba and instead sell the "core" search business.
Yahoo's shareholders could end up paying roughly $12 billion in taxes if the IRS deems the transaction taxable after the spinoff, expected to close by end-December. Yahoo was worth about $31 billion as of Wednesday's close.
McKinsey will help Yahoo decide which units to shut, sell or invest in, Re/code said, citing several people close to the situation.
As part of a major overhaul of its operating structure, Google said on Monday it was creating a new holding company called Alphabet.
Maps.yahoo.com will shut down by the end of this month, Amotz Maimon, Yahoo's chief architect, said in a blog post, as the service faces intense competition from Google Inc's Maps service.
Forbes's 12th annual list of the 100 most influential women feature extraordinary entrepreneurs, visionary CEOs, politicians, celebrity role models, billionaire activists and pioneer philanthropists who are "transforming the world" and and have been "ranked by dollars, media presence and impact".
The tech giant said Tuesday that its first-quarter adjusted earnings came in at 15 cents per share on USD 1.04 billion in revenue.