(Reuters) – Activist investor Starboard Value is pressuring eBay for the second time in two years and said on Thursday that it plans to install four directors on the e-commerce company’s 14 member board.
The eBay logo is pictured on a phone screen in this photo illustration in New York, U.S., July 23, 2019. REUTERS/Brendan McDermid/Illustration
The hedge fund, which last year helped fill one board seat, said the board had been slow in changing its chief executive and tackling issues including separating eBay’s classifieds business from its marketplace business.
Starboard said in a letter that it wants the board to appoint an outsider as permanent chief executive after eBay has been headed by an interim CEO for six months. In September Devin Wenig stepped down after disagreements with the board and Scott Schenkel, eBay’s chief financial officer, was appointed interim CEO.
“Given our concern over certain historical decisions, we worry that the board may default to an internal…
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