Starboard Value, a $1 billion hedge fund with a 5 percent stake in AOL, claims the media company is poorly managed and is preparing for a proxy fight to replace three members of AOL's board.
Starboard said today that it filed a copy of the presentation it plans to make at AOL's annual meeting in June. Starboard is backing a slate of nominees that would replace AOL directors Alberto Ibarguen, Patricia Mitchell, and James Stengel.
For months, Starboard has bashed AOL and CEO Tim Armstrong's leadership record. The hedge fund has grown impatient with AOL's effort … Read more