eBay Inc. today announced that it has filed a preliminary proxy statement with the Securities and Exchange Commission (“SEC”) with respect to eBay’s 2014 Annual Meeting of Stockholders.
eBay Inc. also announced that its Board of Directors, on the recommendation of its Corporate Governance and Nominating Committee, is nominating for re-election to the Board:
- Fred D. Anderson, Co-Founder and Managing Director, Elevation Partners
- Edward W. Barnholt, Former President and CEO, Agilent Technologies, Inc.
- Scott D. Cook, co-founder and Chairman of the Board, Intuit Inc.
- John J. Donahoe, eBay Inc. President and CEO
eBay founder and Chairman Pierre M. Omidyar said: “Fred Anderson, Ned Barnholt, Scott Cook and John Donahoe are proven leaders who have been enormously valuable directors. They demonstrate the caliber of leadership, business experience, insight and expertise that our company needs and that I believe our stockholders expect on our Board. I am personally delighted that they remain committed to the growth and success of the Company, and I encourage my fellow stockholders to give them their full support.”
eBay stockholder and activist investor Carl Icahn nominated two of his employees to the Board; the nominations of both were rejected by the Board’s Corporate Governance and Nominating Committee.
Independent director and Corporate Governance and Nominating Committee Chairman Richard T. Schlosberg, III, commenting on the Committee’s decision, said: “The Corporate Governance and Nominating Committee gave serious consideration to the two employees of Carl Icahn that he nominated to the Board. After careful review, the Board concluded that they are not qualified candidates based on the criteria that have consistently been applied by the Committee, including in particular that neither nominee has relevant experience or expertise. In addition, neither nominee would comply with the Board’s governance guidelines on overboarding – each is on four public company boards and Mr. Ninavaggi is co-CEO of Federal Mogul.”
The preliminary proxy materials can be found on the company’s website and at http://www.ebayinc.com/bettertogether which the company will use for proxy-related communications going forward.
Nominees for Election for a One-Year Term Expiring at Our 2015 Annual Meeting
FRED D. ANDERSON
Mr. Anderson is the Co-Founder of Elevation Partners, a private equity firm that focuses
on the media and entertainment industry, and has served as a Managing Director since
July 2004. From 1996 until 2004, Mr. Anderson served as Executive Vice President and
Chief Financial Officer of Apple Inc. From 1992 until 1996, Mr. Anderson served as
Corporate Vice President and Chief Financial Officer of Automatic Data Processing, Inc.
Prior to that, Mr. Anderson was the COO and President of MAI Systems. Mr. Anderson
currently serves on the Board of Directors of Yelp Inc.
Mr. Anderson was formerly a Certified Public Accountant with Coopers & Lybrand and a
captain in the U.S. Air Force. Mr. Anderson also serves on the Board of Trustees for
Whittier College. Mr. Anderson received his B.A. from Whittier College and his M.B.A.
from the University of California, Los Angeles.
Extensive financial experience, having served as the CFO of Apple Inc., one of the
world’s largest consumer electronics companies, for eight years and the CFO of
Automatic Data Processing, one of the world’s largest providers of business processing
solutions, for four years.
Technology Industry Experience
Former CFO of two large and innovative global technology companies, as well as
extensive experience as a board member of public technology companies.
Co-Founder and Managing Director of Elevation Partners.
Significant experience in all aspects of analyzing and executing sophisticated corporate
transactions with very large and sophisticated technology businesses and through his
experience at Elevation Partners.
EDWARD W. BARNHOLT
Mr. Barnholt served as President and Chief Executive Officer of Agilent Technologies,
Inc., a measurement company, and helped lead Agilent’s spin-off from Hewlett-Packard
Company in May 1999. From 1966 to 1999, Mr. Barnholt held various positions at
Hewlett-Packard Company. Mr. Barnholt currently serves as the Non-Executive
Chairman of the Board of Directors of KLA-Tencor Corporation and as a member of the
Board of Directors of Adobe Systems Incorporated.
Mr. Barnholt also serves as a member of the Board of Trustees of the David and Lucile
Packard Foundation. Mr. Barnholt received a B.S and M.S. in Electrical Engineering
from Stanford University.
Technology Industry Experience
Over 48 years working in the technology sector at some of the largest and most
complex companies in the industry, including Agilent Technologies, Inc. and Hewlett-
Extensive leadership experience as CEO of Agilent Technologies for seven years and
extensive experience serving as a Chairman and board member of companies,
including KLA-Tencor and Adobe Systems (where he also serves on the Compensation
Helped lead the spin-off of Agilent from Hewlett-Packard Company in 2005.
SCOTT D. COOK
Mr. Cook co-founded Intuit Inc., a maker of business and financial management
technology solutions, including QuickBooks, Quicken, and TurboTax, in 1983. Mr. Cook
has served Intuit in various capacities since its founding, has been a director of Intuit
since March 1984, and has been the Chairman of the Executive Committee of the Board
of Directors of Intuit since August 1998. Mr. Cook also serves on the Board of Directors
of The Procter & Gamble Company (where he is Chair of the Innovation and Technology
Committee and a member of the Compensation & Leadership Development Committee),
and The Intuit Scholarship Foundation.
Mr. Cook received his B.A. from the University of Southern California and his M.B.A from
the Harvard Business School.
Technology Industry Experience
Mr. Cook has been a leader in the technology industry for the past 31 years. As cofounder
of Intuit Inc., a global consumer-facing technology company, Mr. Cook has
driven innovation and significant growth.
Mr. Cook’s leadership experience as co-founder, Chairman, and board member of Intuit
provides the eBay Board with strong technology leadership expertise.
Mr. Cook serves on the Harvard Business School’s Dean’s Advisory Board. Mr. Cook is
also on the Board of the Center for Brand and Product Management at the University of
Extensive experience in product development and marketing as founder of the Board of
the Center for Brand and Product Management at the University of Wisconsin, which
focuses on training MBA students in brand and product management.
JOHN J. DONAHOE
Mr. Donahoe has served as eBay’s President and Chief Executive Officer since March
2008, and as a director of eBay since January 2008. From January 2012 until April
2012, Mr. Donahoe served as Interim President of PayPal. From January 2008 to March
2008, Mr. Donahoe served as CEO-designate of eBay. From March 2005 to January
2008, Mr. Donahoe served as President, eBay Marketplaces. From January 2000 to
February 2005, Mr. Donahoe served as the Worldwide Managing Director of Bain &
Mr. Donahoe serves on the Board of Directors of Intel Corporation (where he serves as
a member of the Compensation Committee and Corporate Governance and Nominating
Committee). Mr. Donahoe received his B.A. in Economics from Dartmouth College and
an M.B.A. from the Stanford Graduate School of Business.
Technology Industry Experience
Extensive industry experience and deep knowledge of eBay’s day-to-day operations
based on current role as eBay’s President and Chief Executive Officer and previous
managerial experience as President of eBay Marketplaces and Interim President of
Served as the President of eBay Marketplaces and Interim President of PayPal for
approximately three years combined. Former leadership experience prior to eBay as
Worldwide Managing Director of Bain & Company, one of the largest and most wellrespected
global management consulting firms in the world.
As Worldwide Managing Director of Bain & Company, Mr. Donahoe oversaw the firm’s
global management consulting business with a diverse client base and substantial
international operations. This broad international experience is extremely valuable to the
Oversaw the acquisitions of Braintree, GSI Commerce, and 35 other companies, and
the divestiture of Skype.
Important Additional Information
eBay Inc., its directors and certain of its executive officers are participants in the solicitation of proxies from stockholders in connection with eBay’s 2014 Annual Meeting of Stockholders. eBay intends to file a proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the "SEC") in connection with such solicitation. EBAY STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ ANY SUCH PROXY STATEMENT (INCLUDING ANY AMENDMENTS AND SUPPLEMENTS) AND ACCOMPANYING WHITE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION.
Information regarding the names of eBay’s directors and executive officers and their respective interests in eBay by security holdings or otherwise is set forth in eBay’s proxy statement for the 2013 Annual Meeting of Stockholders, filed with the SEC on March 18, 2013. To the extent holdings of such participants in eBay’s securities have changed since the amounts described in the 2013 proxy statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Additional information can also be found in eBay’s Annual Report on Form 10-K for the year ended December 31, 2013, filed with the SEC on January 31, 2014.
These documents, including any proxy statement (and amendments or supplements thereto) and other documents filed by eBay with the SEC, are available for no charge at the SEC's website at www.sec.gov and at eBay’s investor relations website at http://investor.ebayinc.com. Copies may also be obtained by contacting eBay Investor Relations by mail at 2065 Hamilton Avenue, San Jose, California 95125 or by telephone at 866-696-3229.
About eBay Inc.
eBay Inc. (NASDAQ: EBAY) is a global commerce and payments leader, providing a robust platform where merchants of all sizes can compete and win. Founded in 1995 in San Jose, Calif., eBay Inc. connects millions of buyers and sellers and enabled $212 billion of commerce volume in 2013. We do so through eBay, one of the world's largest online marketplaces, which allows users to buy and sell in nearly every country on earth; through PayPal, which enables individuals and businesses to securely, easily and quickly send and receive digital payments; and through eBay Enterprise, which enables omnichannel commerce, multichannel retailing and digital marketing for global enterprises in the U.S. and internationally. We also reach millions through specialized marketplaces such as StubHub, the world's largest ticket marketplace, and eBay classifieds sites, which together have a presence in more than 1,000 cities around the world. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
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