Andreessen Bails From eBay Board

Venture Capitalist and Web graphical browsers creator Marc Andreesen has resigned from eBay’s board, pointing to the planned split of PayPal and eBay as making it “the right time to step down,” according to Bloomberg.

“Andreessen, the co-founder of Netscape and a board member at Hewlett-Packard, has ‘complete confidence’ in the ability of EBay Chief Executive Officer John Donahoe and the board to successfully split the company, he said in a statement from EBay today,” the story said. “The resignation follows a contentious campaign by activist shareholder Carl Icahn to split the company, in which the activist shareholder said Andreessen and fellow director Scott Cook had conflicts of interest. Icahn criticized EBay’s corporate governance, and in April EBay announced an agreement with him that avoided a proxy contest. EBay unveiled plans to spin off PayPal last month.”

Andreessen joined the board of San Jose, California-based EBay in September 2008.