Activist hedge fund Starboard Value is preparing to push for a sweeping overhaul of the board at online travel group Tripadvisor, according to a report by the Wall Street Journal citing unnamed people familiar with the matter

Starboard, which now holds more than 9% of Tripadvisor’s shares, plans to nominate a majority slate of directors for the company’s eight-member board, according to the WSJ's sources, with the fund expected to outline its proposals in a letter to the board.

The activist investor has previously urged Tripadvisor to consider strategic options for its restaurant booking platform, TheFork, including a potential sale.

Tripadvisor, which has a market capitalisation of around $1.1bn, has come under pressure after a sharp decline in its share price. The stock is down nearly 46% over the past year and hit a record low last week following weaker-than-expected fourth-quarter results.