Yahoo! Inc. investor Starboard Value LP nominated nine directorsto replace the entire board at the struggling Web portal, which itcontends has been mismanaged under Chief Executive Officer MarissaMayer.

Starboard, a longtime critic of the company and an activistshareholder with 1.7 percent of Yahoo shares, nominated its chiefexecutive officer, Jeffrey Smith, among others for election atYahoo's annual meeting later this year, according to a letter toshareholders.

With little progress to show for her revival efforts after morethan three years, investors are losing patience with Mayer, who haspresided over sluggish sales growth and failed to separate Yahoo'smain Web business from its multibillion-dollar stake in AlibabaGroup Holding Ltd. Starboard first began to call for changes in2014 and recently stepped up criticism of management, even as Yahoosaid it would consider alternatives, including the sale of thecompany's core operations.