Yahoo is facing another brutal board fight, as activist investor Starboard has put up an entirely new slate of directors to be voted on at its next shareholders’ meeting this summer.
This is the latest in a long line of shakeups and transitions at Yahoo, which has had 5 CEOs (7 if you count interim CEOs) since 2007, and several board shakeups in the last few years.
The inescapable problem?
Yahoo’s core business has been shrinking for years, and nobody seems to be able to turn it around. This chart from Statista shows the bad news — Yahoo’s revenue has fallen 11% since 2010, and its adjusted profit (before taxes, amortization, and certain other expenses) has been cut almost in half.