Billionaire investor Carl Icahn increased pressure on eBay Inc to separate from its payments business PayPal on Wednesday and called corporate governance at the e-commerce giant dysfunctional. The activist investor, who disclosed a 2.15 percent stake in the e-commerce giant on Monday, also promised to lay out a more detailed case for spinning off fast-growing PayPal in coming weeks. We believe corporate governance at eBay is dysfunctional. Lets end this charade, Icahn said in a letter to eBay shareholders. Icahn said in a letter to shareholders on Monday that two longtime board members, Marc Andreessen and Scott Cook, had business interests that directly competed with eBay.
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