Starboard Eyes Board Takeover at Struggling Tripadvisor
Activist investor Starboard plans to nominate a majority slate to Tripadvisor's board after stock plunges 46%.
Starboard is going big on Tripadvisor — and not in a friendly way. The activist investor, holding a 9% stake, plans to nominate a majority slate of directors to TRIP's board.
The move comes as the travel-site operator's stock has cratered roughly 46% over the past year. Things got worse recently when quarterly earnings missed analyst expectations, sending shares down further.
A letter and sources confirmed Starboard's intentions. Nominating a majority slate signals this isn't a gentle nudge — it's a full-on push to reshape how the company is run.
Tripadvisor has been struggling to regain investor confidence as competition in the online travel space intensifies. With nearly a tenth of the company under its belt, Starboard clearly thinks it can do better than current leadership.