eBay Says Starboard's Nominations for Board 'Are Unwarranted'
March 19 2020 - 3:16PM
Dow Jones News
By Allison Prang
eBay Inc.'s board thinks activist investor Starboard Value LP's
nominations for eBay's board "are unwarranted and unreasonable,"
eBay said Thursday in prepared remarks.
"It is unclear what Starboard is hoping to accomplish through
the appointment of four more candidates, other than to create
unnecessary distraction and, as a relatively small minority
investor, to obtain an outsized role on the Board," eBay said.
Starboard nominated four people to the company's board. On March
11, The Wall Street Journal said the investor nominated a minority
slate of directors to the online marketplace company's board.
eBay said Thursday that one of its current board members was
jointly agreed on with the activist investor a year earlier and
that another member is a principal at activist investor Elliott
Management.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
March 19, 2020 15:01 ET (19:01 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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