EBay chief executive John Donahoe’s annual pay package slumped 53% to $13.8 million (£8.3 million) last year as the power struggle between the e-commerce firm and activist investor Carl Icahn intensified.
Icahn, who owns 2% of the US online giant, wants it to spin off its payments business PayPal and has called for two allies to be appointed to the board but Richard Schlosberg, chairman of eBay’s corporate governance committee said: “Neither nominee has relevant experience or expertise.” He also claimed they would fail eBay’s rules on “overboarding” because they sit as directors on four other listed companies.
Donahoe’s remuneration was expected to fall from $29.7 million in 2012, when his package included a one-off share award of $14.8 million, but eBay’s weaker performance last year also hit his pay.
Chairman of eBay Pierre Omidyar, who founded the online auction house and retailer, reiterated his backing for Donahoe.
