CNBC's Jim Cramer said Thursday investors should buy Yahoo's stock if Starboard Value is able to replace Marissa Meyer with Rick Hill as interim CEO.
Starboard on Thursday nominated Hill and eight others to Yahoo's board.
"We believe that Yahoo is deeply undervalued and opportunities exist within the control of management and the Board of Directors (the 'Board') to unlock significant value for the benefit of all shareholders," Starboard said in a letter to Yahoo shareholders.
Hill was chairman and CEO of chipmaker Novellus Systems until 2012, when the company was acquired by Lam Research Group for about $3.3 billion.
"Rick Hill is one of the greatest moneymakers I have ever seen in my lifetime. He created tremendous value from Novellus," Cramer said on "Squawk on the Street."