Activist investor wants to replace Yahoo’s entire board
NEW YORK – Starboard Value LP says it wants to replace Yahoo’s entire board, setting up a battle between the activist investor and the faded Internet company.
Starboard on Thursday nominating nine people to the board.
Tension between Starboard and Yahoo has been escalating. Yahoo named two new directors earlier this month, a manoeuvr that likely agitated Starboard. Starboard has suggested a major change in leadership is needed, and that could include CEO Marissa Mayer, who has cut staff and jettisoned assets in a bid to turn Yahoo around.
Yahoo Inc. did not immediately respond to a request for comment.
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