Yahoo’s Most Vocal Critic Is Now On Its Board

Yahoo on Wednesday announced a deal that should end a nearly year-long tussle with a New York hedge fund that had threatened to unseat its entire board. Starboard Value has been a vocal critic of the tech giant, which has struggled to profit from its massive online audience. Last month, Starboard called for Yahoo’s entire board of directors–including Marissa Mayer, Yahoo’s chief executive, and H. Lee Scott, the former president of Wal-Mart–to be replaced. The hedge fund submitted a slate of hand-picked board members to stand for election on during Yahoo’s next shareholder meeting. Instead, Yahoo said Wednesday it will add four board members chosen by Starboard, including the hedge fund’s founder, Jeff Smith. They will join the board immediately.

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