Starboard Delivers Letter To EBay Board; Announces Director Nominees

(RTTNews) - Starboard Value LP, one of the largest shareholders of eBay Inc. (EBAY), has delivered a letter to Thomas Tierney, eBay's Chairman of the Board. Also, Starboard Value LP nominated four director candidates for election at the 2020 Annual Meeting of Stockholders.

Starboard Value LP believes the CEO decision is critical for the long-term success of eBay. eBay should be focused on identifying qualified external candidates in order to hire a new CEO, Starboard said.

"We implore the Board to choose a leader that has the skill and capability to lead the company through a transition in a time of great economic transformation. Given our concerns over certain historical decisions, we worry that the Board may default to an internal candidate," Starboard stated.

Starboard's nominees to Board are: Shannon Brayton; Peter Feld; Eddy Hartenstein; and Stephanie Tilenius. Brayton most recently served as the Chief Marketing Officer of LinkedIn. Feld is a Managing Member and Head of Research at Starboard Value LP.