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.
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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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