Overview
- Starboard Value, which owns about 9% of Tripadvisor, said it will nominate a majority slate for the 2026 annual meeting.
- The activist urged a formal review of options including selling TheFork or evaluating an outright sale of the company.
- Tripadvisor said it has engaged with Starboard, cited a November operating realignment and cost reductions, and began a process last week to monetize TheFork.
- Shares recently hit an all-time low after weak results, then rose more than 10% on Tuesday following Starboard’s public push.
- Starboard criticized Tripadvisor’s pace on generative AI and pointed to missed opportunities, including a 2025 acquisition approach around $18 per share that was not pursued.