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EBay CEO Leaves Amid Activist Fight to Spin Off ... Wait, Haven’t We Already Done This?


EBay Inc. has been here and done this, but the sequel may not have the same payoff. In 2014, activist investor Carl Icahn campaigned and hounded eBay EBAY, -0.80% to spin off its faster-growing PayPal PYPL, +0.43% payments business. Hedge fund activist Dan Loeb of Third Point joined in , and they ultimately prevailed in convincing eBay to sell PayPal in a maelstrom that eventually led to the exit of Chief Executive John Donahoe...

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