| Home : February 24 2014 Computer News : Investor Icahn blasts eBay board, calls for company to spin off PayPal |
|
Investor Icahn blasts eBay board, calls for company to spin off PayPal |
February 24, 2014
Investor Carl Icahn has ripped into the eBay board of directors and called for the company to spin off its PayPal unit in a colorful letter to eBay stockholders released Monday.Icahn, a long-time activist investor in tech companies. accused two eBay board members, Marc Andreessen and Scott Cook, of directly competing with the company, and said that CEO John Donahoe was “completely asleep or, even worse, either naive or willfully blind to these grave lapses of accountability and stockholder value destruction.” Icahn called on eBay’s board members to resign.EBay should spin off PayPal because the online payments provider is “shrouded by a conglomerate discount the market has afforded eBay,” according to his letter. A separate PayPal would allow the two “independent management teams to most effectively build two very different business platforms, make economic decisions independent of each other and, most importantly, foster innovation,” he wrote.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2101060/investor-icahn-blasts-ebay-board-calls-for-company-to-spin-off-paypal.html#tk.rss_all
|
|
|
|
|
