Yahoo Agrees to Give 4 Board Seats to Starboard Value

April 27, 2016 1:20 PM

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Yahoo Agrees to Give 4 Board Seats to Starboard Value

SAN FRANCISCO — Yahoo, the embattled Internet giant, has reached a deal with the activist hedge fund Starboard Value to give it four seats on the Yahoo board, including one for Starboard’s chief executive, Jeffrey C. Smith, the company announced early Wednesday.

Two existing members of the board will not stand for re-election, meaning that the new board will have 11 members, four of whom are allied with Starboard.

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