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EBay Inc. Files Preliminary Proxy Statement For Annual Meeting

eBay Inc. (Nasdaq: EBAY) today announced that it has filed a preliminary proxy statement with the Securities and Exchange Commission (“SEC”) with respect to eBay’s 2014 Annual Meeting of Stockholders.

eBay Inc. also announced that its Board of Directors, on the recommendation of its Corporate Governance and Nominating Committee, is nominating for re-election to the Board:

  • Fred D. Anderson, Co-Founder and Managing Director, Elevation Partners
  • Edward W. Barnholt, Former President and CEO, Agilent Technologies, Inc.
  • Scott D. Cook, Co-Founder and Chairman of the Board, Intuit Inc.
  • John J. Donahoe, eBay Inc. President and CEO

eBay founder and Chairman Pierre M. Omidyar said: “Fred Anderson, Ned Barnholt, Scott Cook and John Donahoe are proven leaders who have been enormously valuable directors. They demonstrate the caliber of leadership, business experience, insight and expertise that our company needs and that I believe our stockholders expect on our Board. I am personally delighted that they remain committed to the growth and success of the Company, and I encourage my fellow stockholders to give them their full support.”

eBay stockholder and activist investor Carl Icahn nominated two of his employees to the Board; the nominations of both were rejected by the Board’s Corporate Governance and Nominating Committee.

Independent director and Corporate Governance and Nominating Committee Chairman Richard T. Schlosberg, III, commenting on the Committee’s decision, said: “The Corporate Governance and Nominating Committee gave serious consideration to the two employees of Carl Icahn that he nominated to the Board. After careful review, the Board concluded that they are not qualified candidates based on the criteria that have consistently been applied by the Committee, including in particular that neither nominee has relevant experience or expertise. In addition, neither nominee would comply with the Board’s governance guidelines on overboarding – each is on four public company boards and Mr. Ninavaggi is co-CEO of Federal Mogul.”

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