Related: Icahn is battling the workers’ union of the Taj Mahal casino
But Scherrer said his firm first invested in eBay because it believed it is better off with PayPal. He thinks that Icahn’s meddling may not benefit shareholders who want to hold the stock for several years — not just a couple of months.
“The worst part about having Icahn invest in our companies is that he somehow can inflict his will in a way that benefits the stock in the short-term but takes away potential for returns in the long-term,” he said.
Scherrer added that Icahn has been unfair in his criticism of eBay CEO John Donahoe.
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