eBay’s (s ebay) fourth-quarter and year-end earnings report included an extra dash of drama along with the numbers: high-profile investor Carl Icahn nominated two of his employees to the company’s board of directors and submitted a non-binding proposal to spin off PayPal into a separate company.

It seemed to be a bit of a blindside for the ecommerce company, as Icahn — who owns shares in numerous companies, including Apple (s aapl) and Herbalife — managed to acquire shares and derivative securities to give him a 0.82 percent stake in the company just earlier this month.

Despite Icahn’s urging, the earnings report indicated that eBay isn’t interested:

Regarding Mr. Icahn’s separation proposal, eBay’s Board of Directors routinely assesses the company’s strategic direction and has explored in depth a spinoff or separation of PayPal. eBay’s Board of Directors has concluded that the company and its shareholders are best served by the…