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Yahoo Investor Starboard Value Pursues Full Board Control

  • Hedge fund `extremely disappointed' in financial performance
  • Slate of nominees includes Starboard CEO Jeffrey Smith
Updated on

Activist Starboard Value LP is making good on its threats to unleash a proxy war with Yahoo! Inc., seeking full control of the Web portal’s boardroom.

Starboard said Thursday it is nominating nine directors to replace all of the board’s current members, including Chief Executive Officer Marissa Mayer, who has drawn increasing investor ire over her stalled turnaround strategy. The activist hedge fund, which has increased its Yahoo holdings to 1.7 percent, is seeking the director sweep after first raising concerns about how the company was being managed in September 2014.