Icahn says eBay directors have conflicts of interest

By Laurie Bennett

February 24, 2014 at 12:48pm

Investor Carl Icahn has called for the resignations of two eBay directors because of conflicting business interests.

Icahn, who has a 2.15 percent stake in the company, issued an open letter to stockholders accusing long-time board members Marc Andreessen and Scott Cook of having connections to eBay competitors.

Icahn took issue with Andreessen because his venture capital firm, Andreessen Horowitz, had invested in eBay competitors such as Coinbase, Boku, Dwolla, Jumio and Fab.

Icahn also complained of eBay’s sale of Skype in 2009 to an investor group that included Andreessen.

Cook is founder and director of Intuit, which competes with eBay-owned PayPal.

Icahn is urging the spinoff of PayPal as a separate company.

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