Starboard withdraws nominations to eBay board

Activist investor Starboard is withdrawing its nominations to eBay Inc's board after the e-commerce company appointed Walmart executive Jamie Iannone as its chief executive officer, the firms said on Thursday.

The hedge fund owns more than 1% of eBay's stock and last month revealed plans to install four directors on the company's 14-member board.

It had also called on the company to appoint an outsider as its permanent chief executive. [nL4N2BC414]
EBay shares were last up 1.5% in early trading.

The company said on Thursday it expects to name a new independent board director in the next few months and will consider the individuals nominated by Starboard.

EBay expects to hold its annual shareholder meeting in June.