Yahoo (YHOO) had a tough year in 2015. The core business continued declining, key employees fled and its plans to deliver shareholder value by spinning off its Alibaba (BABA) stake into a standalone company was effectively derailed by the IRS. Unfortunately for the company and its beleaguered CEO Marissa Meyer, the start of 2016 isn’t looking much better… Read More »
After successfully tossing out the entire board of directors at Darden (DRI) last year, Jeffrey Smith’s Starboard Value fund quickly moved on executing its agenda. After all, a dominating win like that sort of gives one that kind of mandate. One of the first moves was eliminating the ‘interim’ tag from CEO Gene Lee. Next came the expected… Read More »
Immediately after closing the sale of Red Lobster to Golden Gate Capital, Darden (DRI) began begging for forgiveness from its spurned activist shareholders. CEO Clarence Otis got sacrificed at the altar resigned and the company announced that it would let Starboard nominate three members to its board who would run unopposed. Starboard was not satisfied with this offer though and… Read More »