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Icahn Targets Silicon Valley Directors' Club

Publication Date: 
February 24, 2014
Source: 
The Wall Street Journal
Author: 
Greg Bensinger And David Benoit

Vivek Wadhwa, a fellow at the Rock Center for Corporate Governance, comments on the "widespread problem with corporate governance in Silicon Valley" for The Wall Street Journal. 

Activist investor Carl Icahn stepped up his attack on eBay Inc. on Monday, accusing the online retailer of overlooking conflicts of interest on its board in what amounts to a broadside against a common practice in Silicon Valley.

Carl Icahn accused eBay of lapses in corporate governance, including conflicts of interest, and has renewed his fight to split off Paypal. David Benoit reports on MoneyBeat. Photo: AP.

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But Vivek Wadhwa, a fellow at Stanford University's Arthur and Toni Rembe Rock Center for Corporate Governance, said venture capitalists like Mr. Andreessen sit on too many boards and put their own interests apart from those of shareholders.

"I respect and admire Marc Andreessen a lot," Mr. Wadhwa said. He added, "there is a widespread problem with corporate governance in Silicon Valley.…They don't get it."