Following the release of its Q4 results, eBay Inc (NASDAQ: EBAY) announced an expansion to its Board of Directors and a standstill agreement with investor Carl Icahn on Wednesday.
According to the company’s press release, in addition to certain corporate governance provisions to be adopted by PayPal as an independent company at the time of its spin-off from eBay Inc., the agreement appoints Icahn Capital executive Jonathan Christodoro to eBay Inc.'s current board of directors.
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The agreement with Icahn allows him to determine which board Christodoro will serve on at the time of separation.
"We are pleased to reach an agreement with Carl Icahn and to add Jonathan to the board. This agreement reflects our alignment on separation and our shared belief in the benefits of avoiding distractions. We look forward to contributions of all of our directors as we work to set up eBay and PayPal for success and create strong boards for each of the new companies,” said John Donahoe, President and CEO of eBay Inc.
eBay traded at $55.09 in the after-hours session, up 3.2 percent.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.