EBay rejects Carl Icahn's director nominees, urges reelection of its 4 directors

Associated Press + More

SAN JOSE, Calif. (AP) — EBay is urging shareholders to vote for its directors rather than the pair put up by activist investor Carl Icahn.

E-commerce company eBay Inc. says its four directors up for re-election, including CEO John Donahoe, company co-founder and managing director Fred Anderson, Intuit co-founder Scott Cook and former Agilent Technologies CEO Edward Barnholt, should be re-elected.

Icahn has put forth two directors that are his employees and has urged shareholders to vote against eBay's board. The activist investor has urged eBay to spin off its profitable mobile commerce arm called PayPal.

Shares are down 49 cents at $58.57 in morning trading. The stock had been up about 8 percent since the beginning of the year.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.