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…

Read More

Starboard to Seek Board Control in Upcoming Talks with Yahoo

Yahoo

Starboard Value, the activist hedge fund headed by Jeffrey Smith, will seek board control during its upcoming discussions with the leadership of Yahoo Inc. (NASDAQ:YHOO) next week, according to Reuters based on information from people familiar with the situation. The activist investor has been pushing Yahoo to implement significant changes in Board composition, management, execution and strategy based on the reason that the company’s core business “failed to produce acceptable results.” Starboard Value also demanded a sale or spinoff of Yahoo’s core businesses. Recent reports indicated that it was prepared…

Read More