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Arjuna Capital: Momentum Builds - 45 Percent Of eBay Shareholders Support Gender Pay Equity Resolution, Company Reacts By Saying It Will "Fix" Problem

BOSTON, April 27, 2016 /PRNewswire/ -- Today, nearly 45 percent of eBay EBAY, +3.18% shareholders voted for a resolution calling for the tech giant to take action to close the gender pay gap. In response to the vote, the CEO of eBay promised to "fix" the situation at the company. eBay is the sixth of nine tech companies at the focus of gender pay equity resolutions advanced by Arjuna Capital, a division of Baldwin Brothers Inc., a registered investment advisor. Pax World Management co-filed the eBay proposal.

The eBay vote and company reaction reflect the huge momentum building for tech companies to improve the treatment of women in the workplace. In the case of eBay, the greater than 44 percent vote reflected a huge jump in support from the 8 percent backing the same resolution received at the company's 2015 annual meeting. In terms of eBay's market value, the 44.6 percent percent support today reflected $13 billion in the company's stock.

Commenting on the eBay vote, Natasha Lamb, director of equity research and shareholder engagement, at Arjuna Capital said: "Investors are no longer putting up with the status quo, which is resoundingly clear from today's momentous vote to close the gender pay gap at eBay. It is time for companies like eBay to...