Visitors pass the Ebay logo to the CeBIT computer fair in Hanover March 2, 2011.
Credit: Reuters/Tobias SchwarzNEW YORK | Tue, June 28, 2011 4 pm EDT
NEW YORK (Reuters) - EBay Inc. announced two changes of Government to business Tuesday that could give shareholders more its word to say in the way that electronic trading company is executed.
EBay said that its Board of Directors has eliminated a significant majority vote requirement, which means that most of the shares voting in circulation of eBay is necessary to amend the statutes of the company. That compares to two-thirds of the shares before voting.
EBay corporate governance and Nominating Committee recommended that a proposal from the Commission to declassify be submitted to the annual meeting in 2012. If it is adopted, this proposal would mean to all the directors of EBay are for re-election each year. The current classified Council means that only certain classes of Directors are to his re-election each year.
(Statement by Alistair Barr.) (Editing by Robert MacMillan)
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