NEW YORK, March 5 Billionaire activist investor
Carl Icahn said Wednesday that corporate governance at
e-commerce giant eBay Inc., in which he is a
shareholder, was the worst he had ever seen.
"I've never seen worse corporate governance than eBay,"
Icahn told CNBC television. Icahn, who has a 2.15 percent stake
in eBay, is known for taking large stakes in companies and
pushing for management change.
Icahn also said that eBay chief executive John Donahoe
should not have control over PayPal, the company's fast-growing
Icahn has called for the company to spin off PayPal. He has
publicly feuded with eBay over its 2009 sale of a majority stake
in online phone service Skype to private investors, including
eBay board member Marc Andreessen's venture capital firm
Icahn, who has criticized Andreessen for profiting from the
subsequent sale of Skype to Microsoft for $8.5 billion
in 2011, told CNBC that he "might blame Donahoe more than
Andreessen for letting it happen."
Donahoe told Fox Business Network on Wednesday that eBay's
corporate governance was on "very solid ground" and reiterated
that eBay and PayPal benefit from being a single entity.
"We know this is sort of the antics that Carl uses and
that's fine," Donahoe said, and said that "the synergies with
eBay are the strongest synergies you'll find with PayPal in any
Icahn, whose investment firm has a stake of more than $4
billion in Apple Inc., reiterated Wednesday that the
company was undervalued and said that chief executive Tim Cook
was "doing a good job."
Icahn, chairman of Icahn Enterprises L.P., was not
immediately available for comment.