Activist investor Starboard Value is urging Yahoo to go further with its break-up plans, calling on the internet company to spin off its stake in Yahoo Japan as part of a “major overhaul” that would narrow its focus.
The investor successfully lobbied for Yahoo to split off its $40bn stake in Chinese ecommerce group Alibaba, and said the move announced at the end of January was a “good first step”.
However, it said Yahoo’s financial performance as revenues decline in the core business was “unacceptable” and “troubling”, and that shareholders, analysts and industry executives still had “substantial scepticism” about the company’s management.
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