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Carl Icahn: Sometimes I'm not a great director either

Carl Icahn says corporate governance in America is broken—but he admits he's not perfect either when it comes to serving on boards of directors.

Icahn sits on the board of New York's Mt. Sinai hospital, where he is also a major donor. But in a "Squawk Box" interview Wednesday, he conceded he wasn't the most productive member of the group.

"I'm not a great board member, I'm sort of an obsessive guy, I work all the time, so I haven't gone to many meetings," Icahn said. "I believe my time is better spent actually than just going to meetings where I really have to admit I don't understand a lot of the things they do over there."

Icahn said his main contribution was his skill in picking good managers, a trait that he said led him to current Mt. Sinai CEO Ken Davis.