eBay Announces Elimination of Supermajority Voting Requirement in Bylaws

eBay Inc. EBAY today announced that, at the first regularly scheduled meeting of the Board of Directors following eBay's 2011 annual meeting of stockholders, the Board has taken action to eliminate a supermajority voting requirement in its bylaws. The Board's approval to amend eBay's bylaws, which is effective immediately, modifies the voting standard required for stockholders to amend eBay's bylaws from 66-2/3% to a majority of eBay's outstanding voting stock. In addition, the Corporate Governance & Nominating Committee of the Board has recommended to eBay's Board that a proposal to declassify the Board be submitted to stockholders at eBay's 2012 annual meeting.