Starboard Value Starts Proxy Fight to Oust Entire Yahoo Board

Yahoo

Starboard Value started a proxy fight to oust the entire Board of Yahoo! Inc. (NASDAQ:YHOO) including its CEO Marissa Mayer, who has been struggling to maneuver the company towards growth and profitability since 2012. The activist hedge fund owns approximately 1.7% of the outstanding shares of the company. Its investment in Yahoo is worth around $570 million, making it one of the company’s largest shareholders. Starboard has been pushing for changes in the company over the past few years. Earlier this year, the activist hedge fund demanded Yahoo to change…

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