eBay Abolishes Supermajority Voting Requirement

eBay’s Board of Directors formally eliminated a supermajority voting requirement in its bylaws after stockholders voted in April to eliminate it.

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.

The company also said the corporate governance and nominating committee of its board has recommended a proposal to declassify the board; if the board agrees, holders would vote on the proposal at the 2012 annual meeting.

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