By
Reuters
Published
Jun 29, 2011
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EBay unveils shareholder-friendly moves

By
Reuters
Published
Jun 29, 2011

June 29 -EBay Inc. announced two corporate governance changes on Tuesday that could give shareholders more of a say in the way the e-commerce company is run.


Felipe Barrueto from Project Banderole along with an eight other rope ballet artist entertained prior to Meg Whitman, eBay's chief executive, keynote speech - photo: Corbis

EBay said its board eliminated a supermajority voting requirement, which means most of eBay's outstanding voting stock is needed to change the company's bylaws. That compares to two-thirds of the voting stock before.

EBay's corporate governance and nominating committee recommended that a proposal to declassify the board be submitted at the 2012 annual meeting. If passed, this proposal would mean all EBay directors are up for re-election each year. The current classified board means only certain classes of directors are up for re-election each year.

(Reporting by Alistair Barr. Editing by Robert MacMillan)

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