Starboard Value the hedge fund is seeking to oust the entire Yahoo board of directors setting the stage for a big battle over the future of the Web giant that has lost some of its shine.

Activist investor Starboard, is planning to announce sometime Thursday morning that it is going to nominated 9 new directors to the board a Yahoo, according to a report by a national newspaper.

The letter is making good on its threat made earlier this year that it was going to seek a shakeup of the company’s board if it started to feel that the directors were not making needed changes quick enough.

The letter from Starboard said that management and the board have failed continually to live up to promises they have made and should no longer be trusted with the decision of whether Yahoo is to remain independent.

Yahoo could not be reached after messages were left asking for comments late on Wednesday.

Starboard’s action adds more pressure to Marissa Mayer the CEO and the board as they try to turn around or to sell the company.

The board at Yahoo has already started a process of sales for core businesses, while Mayer is trying to reignite results through cuts in costs and improved focus on specific key areas that included content and search.

Should the hedge fund prevail in this vote that should be held with a couple of months, Yahoo would be the largest company to have the full company board replaced by one activist investor.

A victory by Starboard would also increase odds of the company being sold and dismantled. The company owns huge stakes in both Yahoo Japan and Alibaba Group Holding.

Starboard warned that turning the business around would be extremely difficult and that while it wants the company’s board to stay opened minded, it believes several interested buyers who are credible exist.

Under heavy pressure from Starboard along with a few other investors, Yahoo earlier reversed its plan to spin off its Alibaba stake. Earlier in March, it added two new members of the board that have experience in deal making.