Activist Investor Letter Requests eBay Hire an Outsider CEO
Starboard Value LP continues to put pressure on online auction platform eBay (NASDAQ: EBAY), asking its board of directors in public letter delivered on Thursday to choose its new CEO from outside the organization. Additionally, Starboard confirmed in the letter it is aiming to pick four new directors for the 14-person board. One of its nominees is Peter Feld, a managing member and head of research for Starboard Value.
The move is just the latest chapter in a saga of tension between eBay and Starboard, which owns a little more than a 1% stake in the company.
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Source Fool.com
