‘Leadership Change’ May Be Necessary At Yahoo, Says Starboard Value

Starboard Value is continuing its activist campaign against Yahoo Inc with an open letter to Yahoo CEO Marissa Mayer that pushes for a Yahoo-AOL merger and issues a veiled threat that a “significant leadership change” could be necessary if Yahoo doesn’t comply. Starboard Value: Yahoo should consider a merger with AOL “We continue to believe that Yahoo must significantly reduce costs to improve profitability in its core business and should be considering a combination with AOL,” writes Starboard Value managing member Jeffrey Smith. “A combination with AOL, structured properly, could accomplish all of these goals by allowing for: (i) a…