(Reuters) – Activist investor Starboard on Thursday ended its proxy fight at eBay (EBAY.O) by withdrawing its four director nominees four days after the ecommerce company named a new chief executive.
FILE PHOTO: The eBay logo is pictured on a screen in this photo illustration in New York, U.S., July 23, 2019. REUTERS/Brendan McDermid/Illustration
EBay said it plans to name another independent director in the coming months and will consider the people Starboard had suggested as directors.
The decision ends a month-long public fight that erupted at the same time companies around the world were dealing with the outbreak of the coronavirus and concentrated mostly on running their businesses and keeping employees safe.
Investors welcomed the news, which eliminates a distraction for management, and sent eBay’s shares up more than 2% to trade at $36.96.
“This conclusion best positions our Company and our new
Chief Executive Officer to move forward and achieve all that we and Starboard…
Source Reuters Tech News
Source link
