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4-Traders Homepage  >  Equities  >  Nyse  >  Verizon Communications    VZ

VERIZON COMMUNICATIONS (VZ)
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Verizon Communications : Former Yahoo CEO apologises for data breach, blames Russians

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11/10/2017 | 11:03am CEST

Former Yahoo CEO apologises for data breach, blames Russians

NAN-F-24

Apology Washington, Nov. 8, 2017 (Reuters/NAN) Former Yahoo Chief Executive Marissa Mayer on Wednesday apologised for a pair of massive data breaches at the internet company and blamed Russian agents at a hearing on the growing number of incidents involving major U.S. companies.

She told the Senate Commerce Committee, testifying alongside the interim and former CEOs of Equifax Inc and a senior Verizon Communications Inc executive

“As CEO, these thefts occurred during my tenure, and I want to sincerely apologise to each and every one of our users.

“Unfortunately, while all our measures helped Yahoo successfully defend against the barrage of attacks by both private and state-sponsored hackers, Russian agents intruded on our systems and stole our users’ data.

Verizon, the largest U.S. wireless operator, acquired most of Yahoo Inc’s assets in June, the same month Mayer stepped down.

It disclosed in October that a 2013 Yahoo data breach affected all 3 billion of its accounts, compared with an estimate of over 1 billion disclosed in December.

In March, federal prosecutors charged two Russian intelligence agents and two hackers with masterminding the 2014 theft of 500 million Yahoo accounts, the first time the U.S. government has criminally charged Russian spies for cyber crimes.

The charges came amid controversy relating to alleged Kremlin-backed hacking of the 2016 U.S. presidential election and possible links between Russian figures and associates of President Donald Trump.

Special Agent Jack Bennett of the FBI’s San Francisco Division said in March the 2013 breach was unrelated to the one Yahoo disclosed in December and that an investigation of the larger incident was continuing.

“We now know that Russian intelligence officers and state-sponsored hackers were responsible for highly complex and sophisticated attacks on Yahoo’s systems,” Mayer said.

Russia has denied trying to influence the U.S. election in any way.

The Senate Commerce Committee took the unusual step of subpoenaing Mayer to testify on Oct. 25 after a representative for Mayer declined multiple requests for her voluntarily testimony.

A representative for Mayer said on Tuesday she was appearing voluntarily.

Mayer became CEO of Yahoo in 2012. One of the earliest employees of Google, now known as Alphabet Inc, she was the internet search company’s first female engineer and led various businesses at Google including the design of its flagship search engine. (Reuters/NAN)

ACO/AFA

Edited by Abiodun Oluleye/Felix Ajide

(c) 2017 News Agency of Nigeria Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 130 B
EBIT 2018 29 997 M
Net income 2018 18 641 M
Debt 2018 111 B
Yield 2018 4,64%
P/E ratio 2018 11,45
P/E ratio 2019 11,10
EV / Sales 2018 2,50x
EV / Sales 2019 2,41x
Capitalization 212 B
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 56,0 $
Spread / Average Target 8,9%
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Managers
NameTitle
Lowell C. McAdam Executive Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Hans Erik Vestberg CTO, President-Global Networks & Executive VP
Clarence Otis Independent Director
Richard L. Carrión Independent Director
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