Visitors pass the Ebay logo at the CeBIT computer fair in Hanover March 2, 2011.
Credit: Reuters/Tobias Schwarz
NEW YORK | Tue Jun 28, 2011 4:44pm EDT
(Reuters) - 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.
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)
Credit: Reuters (www.reuters.com)
No comments:
Post a Comment