On January 21, 2015, eBay Inc. announced that it has entered into a standstill agreement with investor Carl Icahn. The Company also announced that in addition to certain corporate governance provisions to be adopted by PayPal as an independent company at the time of its spin-off from the Company, the agreement appoints Icahn Capital executive Jonathan Christodoro to the Company's Board of Directors. In addition, the Company announced that the agreement with Icahn allows him to determine which Board Christodoro will serve on at the time of separation.