SAN JOSE, Calif.--(BUSINESS WIRE)--
eBay Inc. (NASDAQ:EBAY) today announced that, at the first regularly
scheduled meeting of the Board of Directors following eBay's 2011 annual
meeting of stockholders, the Board has taken action to eliminate a
supermajority voting requirement in its bylaws. The Board's approval to
amend eBay's bylaws, which is effective immediately, modifies the voting
standard required for stockholders to amend eBay's bylaws from 66-2/3%
to a majority of eBay's outstanding voting stock.
In addition, the Corporate Governance & Nominating Committee of the
Board has recommended to eBay's Board that a proposal to declassify the
Board be submitted to stockholders at eBay's 2012 annual meeting.
About eBay
Founded in 1995 in San Jose, Calif., eBay Inc. (NASDAQ:EBAY) connects
hundreds of millions of buyers and sellers globally on a daily basis
through eBay, the world's largest online marketplace, and PayPal, which
enables individuals and businesses to securely, easily and quickly send
and receive online payments. We also reach millions through specialized
marketplaces such as StubHub, the world's largest ticket marketplace,
and eBay Classifieds sites, which together have a presence in more than
1,000 cities around the world. For more information about the company
and our global portfolio of online brands, visit www.ebayinc.com.
eBay Inc. Corporate Communications
Kathy Chui
press@ebay.com
or
eBay
Inc. Investor Relations
Cosmin Pitigoi, 408-376-7493
http://investors.ebayinc.com
Source: eBay Inc.
News Provided by Acquire Media