The activist hedge fund Starboard Value LP, which owns approximately 0.75 percent of Yahoo, is looking forward to nominate nine directors to Yahoo’s management board on Thursday morning. They plan to remove the entire board of the Internet corporation that is struggling to avoid losses, reported The Wall Street Journal.
The board and management team have repeatedly failed to carry out their own plans and promises and hence, they cannot be trusted with any more decisions.
Starboard has been trying to convince Yahoo to separate its Asian shares and sell the main business. The two sides plan to have a meeting sometime soon, to see if they can reach a consensus, in hopes of avoiding a proxy fight for control of Yahoo.
Nayeemul Islam khan
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