Activist investor Starboard Value, which has dogged Yahoo over the years, on Wednesday sent a letter to the company demanding it make changes or face a proxy fight. Yahoo “made the right decision” by suspending the Alibaba spinoff, but “the continued downward spiral of Yahoo’s core Search and Display advertising businesses” has been “frustrating for us, and likely for you,” the letter states. The management team hired to turn around the core business “has failed to produce acceptable results.”
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Investor Calls for Leadership Changes at Yahoo
Posted by: Richard Adhikari January 7, 2016 02:37 PMActivist investor Starboard Value, which has dogged Yahoo over the years, on Wednesday sent a letter to the company demanding it make changes or face a proxy fight. Yahoo “made the right decision” by suspending the Alibaba spinoff, but “the continued downward spiral of Yahoo’s core Search and Display advertising businesses” has been “frustrating for us, and likely for you,” the letter states. The management team hired to turn around the core business “has failed to produce acceptable results.”