Yahoo is set to be renamed Oath after its future owner Verizon completes its $4.8bn (£3.6bn) acquisition of the tech giant.
AOL chief executive Tim Armstrong tweeted: "Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017."
Verizon has agreed to buy Yahoo's internet business for about $4.8bn (£3.6bn) in cash. The remaining parts of Yahoo, including its stake in Chinese e-commerce giant Alibaba, will be called Altaba.
Yahoo CEO Marissa Mayer will not be a part of the new company, sources told tech website Recode.
The company will be headed by AOL's Armstrong and will be called "Oath-in-chief".
Other senior executives set to resign from the company include David Filo, Eddy Hartenstein, Richard Hill, Jane Shaw, and Maynard Webb.
Mayer's leadership came under the spotlight last year when Yahoo disclosed a second major hack attack, twice the size of the previous one it revealed early on last year, and which experts called the biggest hack in history.
Oath's new name have sent Twitter into a tizzy with hilarious responses - take a look:
FAQ:— Ashley Mayer (@ashleymayer) April 4, 2017
Q: Is "Oath" Yahoo or AOL?
Q: What will determine success?
Q: What's the strategy
A: Build a competitive moath
I will not #TakeTheOath. Will close account.— Denise R. Bradley (@DemonRB) April 4, 2017
Did they throw all of you guys into a room and gave only 5 minutes to come up with a name? And this was the best you could come up with?— Bill "MysteryMii" K. (@MysteryMii215) April 4, 2017