Saturday, October 10, 2015
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
3Q15 Hard Disk Drive Shipments Report
Japanese Fund may Invest In Sharp: report
ASUS Upgrades Its ROG Gaming Lineup
ITC Says Samsung Did Not infringe Nvidia's Patents
ARCHOS and Sikur Ensure Your Privacy with GranitePhone
Firefox To Switch Away From Plugins
Apple Removes Apps From Online Store
PC Shipments Kept Falling In 3Q
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 Home > News > General Computing > Icann C...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, February 26, 2014
Icann Calls eBay Governance 'Dysfunctional'

Activist investor Carl Icahn escalated his attack on EBay Chief Executive Officer John Donahoe and the company's board, calling its governance "dysfunctional" and repeating that eBay and PayPal should be separated.

Last month Icahn proposed that eBay spin off its PayPal unit. Now he sent an open letter to eBay's shareholders, highlighting the competing interests of directors Marc Andreessen and Scott Cook.

"..eBay sold a controlling stake in Skype to a sitting board member (Mr. Andreessen) and Silver Lake, for about $1.9 billion. A mere 18 months later, that board member sold Skype to Microsoft for $8.5 billion, thereby netting a $4 billion gain for himself and Silver Lake that should have accrued to eBay stockholders," the letter reads.

He also questioned whether Mr. Cook should remain on the eBay board since Intuit (a company in which Mr. Cook owns nearly $1 billion in stock) and PayPal are fierce competitors.

"We believe that Mr. Cook's participation in strategic discussions on both sides of the table will continue to present challenges for eBay and will eventually, if it has not happened already, become a major strategic disadvantage for eBay," Icahn wrote.

He concluded saying that the corporate governance at eBay is "dysfunctional," urging eBay stockholders to vote in favor of his proposal in order to send a message to the eBay Board that "eBay and PayPal must be separated. "

The activist investor, who disclosed a 2.15 percent stake in the e-commerce giant on Monday, also promised to lay out a more detailed case for spinning off fast-growing PayPal in coming weeks.

MWC: IBM Wants Mobile Apps on Watson        All News        Millions Of Stolen Credentials Available For Sale
Bing Rewards Members Get OneDrive 100 GB Offer     General Computing News      Millions Of Stolen Credentials Available For Sale

Get RSS feed Easy Print E-Mail this Message

Related News
EBay To Slash Jobs, Sell Enterprise Unit
eBay Asks Users To Change Passwords
AMD Rumored To Work With Toshiba On Radeon SSDs
Icahn Ends Pressure On eBay Over Paypal
eBay to Acquire Braintree
Ebay Same-day Delivery Expanded
eBay To Open Interactive Storefronts
New Logo For eBay
eBay Acquires BillSAFE
eBay Launches Open Commerce Ecosystem, Partners With Facebook
eBay to Acquire Zong
EBay Takes On With Proposed GSI Commerce Acquisition

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .