eBay Founder Stepping Down From Company's Board in "Reimagining" of Its Business

One of the top figures of the late 1990s/early 2000s internet company boom is stepping down from the business he created. It was reported on Friday that Pierre Omidyar has relinquished his seat on eBay's (NASDAQ: EBAY) board of directors. He will, however, remain a director emeritus, an honorary title with no voting rights that will allow him to attend board and board committee meetings upon invitation by those bodies.

Omidyar's move was accompanied by the departure of Jesse Cohn from the board. Cohn is from Elliott Management, an activist hedge fund that revealed in January 1999 it bought a $1.4 billion stake in the company.

No reasons for the two resignations were given. eBay did say that they weren't related to any disagreements with the company.

Source Fool.com