By Tess Stynes
EBay Inc. on Monday appointed two new independent directors to
its board as the Internet marketplace gears up for the spinoff of
its PayPal payment unit later this year.
In a news release Monday, eBay said it added GoPro Inc.
President Tony Bates and American Red Cross Chief Executive Gail
McGovern to its board.
Shares of eBay rose nearly 1% in morning trading to $58.48.
EBay also said two current directors, William C. Ford and
Richard T. Schlosberg, don't plan to stand for re-election at
eBay's 2015 annual meeting. After its May 1 meeting, eBay's board
will include 15 directors, 13 of whom will be independent, the
company stated.
In addition, eBay said Jonathan Christodoro has been elected to
its board as part of the previously announced standstill agreement
with Carl Icahn, the company's largest active shareholder.
EBay in January had unveiled plans to cut 2,400 jobs, add three
board members and explore the sale or spinoff of its eBay
Enterprise unit, which helps companies with their Web sales
efforts. At the time, EBay added to its board Frank Yeary, a former
Citigroup Inc. mergers and acquisitions executive, and Perry
Traquina, a former CEO of Wellington Management Co.
EBay said Monday that it remains on track to complete the
planned separation of PayPal in the second half of this year.
Write to Tess Stynes at tess.stynes@wsj.com
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