Activist investor Starboard Worth is pressuring eBay for the second time in two years and stated on Thursday that it plans to put in four administrators on the e-commerce firm’s 14 member board.
The hedge fund, which final 12 months helped fill one board seat, stated the board had been gradual in altering its chief govt and tackling points together with separating eBay’s classifieds enterprise from its market enterprise.
Starboard stated in a letter that it desires the board to nominate an outsider as everlasting chief government after an interim CEO has headed eBay for six months. In September, Devin Wenig stepped down after disagreements with the board and Scott Schenkel, eBay’s chief monetary officer, was appointed interim CEO.
Starboard’s nominees embrace Peter Feld, the hedge fund’s director of analysis, who has considerable expertise investing in know-how corporations. The agency additionally nominated Shannon Brayton, who most just lately served because of the chief advertising and marketing officer of LinkedIn, Eddy Hartenstein, who at present serves because the lead impartial director on Broadcom Inc’s board, and Stephanie Tilenius, the CEO of Vida Wellbeing, who has beforehand labored at Google.
Starboard, which owns more significant than 1% of eBay widespread inventory, has been holding non-public discussions with the corporate for months however moved forward with a proxy battle this week to publicly push its case for hiring a “world class skilled chief for eBay.”