Aggressive investor expands dispute with Yahoo
New York-based financial firm Starboard is stepping up its confrontation with the leadership of Internet company Yahoo. In an open letter on Thursday, Starboard called for the complete replacement of Yahoo's board of directors.
Nine new members have been proposed for the control and strategy board, including Starboard CEO Jeffrey Smith. Starboard says it holds 1.7 percent of Yahoo. The financial firm has been at loggerheads with Yahoo's management for a long time and is demanding, among other things, the replacement of group CEO Marissa Mayer. In just over three years, she has failed to get Yahoo's advertising business off the ground, while competitors such as Facebook and Google have made significant gains.
Investors are also angry about the zig-zag course in the still unfinished separation from the billion-dollar stake in Chinese online giant Alibaba. (SDA)
