eBay rejects Icahn’s nominees for its board

eBay, the largest online marketplace, said chief executive John Donahoe received $13.8 million in total compensation last year, a 53 per cent drop from 2012, when he was granted a large stock award.

Mr Donahoe has been under fire from activist investor Carl Icahn, who wants eBay to spin off or sell its PayPal electronic payments unit and is nominating two candidates to the board.

In the filing today, eBay recommended shareholders reject Mr Icahn’s proposal and nominees at the annual meeting. The company didn’t give a date for the meeting.

In his own letter to shareholders today, Mr Icahn reiterated his call for a separation of PayPal and repeated his allegation that Mr Donahoe sold videoconferencing service Skype for too low a price in 2009. – ( Bloomberg )