Tony Bates and Gail McGovern Appointed to the Board
Bill Ford and Dick Schlosberg to Retire from the Board as of the 2015
SAN JOSE, Calif.--(BUSINESS WIRE)--
eBay Inc. (NASDAQ:EBAY) today announced the appointment of two new
independent directors in anticipation of completing its previously
announced separation of eBay and PayPal. Tony Bates, President of GoPro,
and Gail McGovern, President and CEO of the American Red Cross, have
been appointed to eBay Inc.'s board of directors.
"The appointments of Tony and Gail to the board represent our commitment
to adding highly qualified independent directors in preparation for
creating two world-class boards," said John Donahoe, President and CEO
of eBay Inc. "Tony and Gail are accomplished leaders. We look forward to
their valuable insights and contributions as we launch two dynamic,
global companies that are well positioned to create lasting value for
their shareholders and customers."
Commenting on his appointment, Mr. Bates said: "The planned separation
of eBay and PayPal will create two more nimble and focused companies
that are better able to compete and win in the rapidly evolving commerce
and payments markets. I am excited to join the board at this important
juncture in eBay's history and work with the management team and board
as we set both of these great companies up for continued growth."
Commenting on her appointment, Ms. McGovern said: "I'm delighted to join
the board of this remarkably forward-thinking and trailblazing company.
I look forward to working with eBay's leadership team and the other
board members to build on the company's track record of innovation in
commerce and payments."
eBay Inc. also announced that current directors William C. Ford and
Richard T. Schlosberg, who have served for 10 years and 11 years,
respectively, have advised the company that they do not plan to stand
for re-election to the board at the 2015 Annual Meeting. With the
appointment of Mr. Bates and Ms. McGovern, eBay Inc.'s board currently
is comprised of 17 directors, 15 of whom are independent. Following the
company's Annual Meeting, which will be held on May 1, 2015, eBay's
board will be comprised of 15 directors, 13 of whom will be independent.
"On behalf of our company, I want to thank Bill and Dick for their years
of wise counsel, invaluable service and commitment to our shareholders,"
said Mr. Donahoe. "They contributed greatly to our strategic plan,
helping lead eBay through a period of successful growth and ensuring
that our businesses are poised for future success."
Additionally, eBay Inc. announced that Jonathan Christodoro has been
elected to its board as part of the previously announced standstill
agreement with Carl Icahn, the company's largest active shareholder.
eBay Inc.'s full slate of director nominations are included in its 2015
proxy statement, which was filed with the Securities and Exchange
Commission (SEC) today and submitted for shareholder approval at the
2015 Annual Meeting.
Separately, the company noted that it continues to make solid progress
on the separation of eBay and PayPal and remains on track to complete
the transaction in the second half of 2015. Last month, PayPal filed its
Form 10 with the SEC to begin the securities registration process.
PayPal expects to update its Form 10 filing in the second quarter 2015
to include details on the separation and distribution and operating
agreements between eBay and PayPal, as well as other corporate and
Biographical Information on New Directors
Mr. Bates brings 25 years of technology leadership, insight and
knowledge to eBay Inc.'s board. He has an unparalleled track record of
entrepreneurship and is a recognized technology leader with a keen
ability to anticipate consumer and industry trends. He currently serves
as President and member of the board of directors of GoPro, Inc. He
previously served as Executive Vice President of Microsoft's Business
Development and Evangelism group, leading its corporate strategy team.
Prior to that role, he was CEO of Skype from 2011 to 2013, where he
oversaw the company's successful integration into Microsoft. Earlier in
his career, he held a series of positions of increasing responsibility
at Cisco, including directing the company's $14 billion Enterprise
Group. Mr. Bates also is a member of the board of directors of Sirius XM
Radio, Inc. and Big Switch Networks, Inc.
Ms. McGovern brings deep management and financial expertise to the
board, having served in senior leadership positions at some of the
world's largest and most recognized companies and organizations. She has
more than 28 years of corporate experience, including serving as
President of Fidelity Personal Investments, a unit of Fidelity
Investments, and Executive Vice President of AT&T's Consumer Markets
Division, the company's largest business unit. She is the current
President and CEO of the American Red Cross, where she has led a number
of initiatives to improve the organization's financial stability and
expand the reach of its lifesaving services. Ms. McGovern also was on
faculty at the Harvard Business School. She serves on the board of DTE
Energy and The Weather Company, and is a member of President Obama's
Management Advisory Board. She graduated from Johns Hopkins University
and received her MBA from Columbia University.
About eBay Inc.
eBay Inc. (NASDAQ:EBAY) is a global commerce and payments leader,
providing a robust platform where merchants of all sizes can compete and
win. Founded in 1995 in San Jose, Calif., eBay Inc. connects millions of
buyers and sellers and enabled $255 billion of commerce volume in 2014.
We do so through eBay, one of the world's largest online marketplaces,
which allows users to buy and sell in nearly every country on earth;
through PayPal, which enables individuals and businesses to securely,
easily and quickly send and receive digital payments; and through eBay
Enterprise, which enables omnichannel commerce, multichannel retailing
and digital marketing for global enterprises in the U.S. and
internationally. We also reach millions through specialized marketplaces
such as StubHub, the world's largest ticket marketplace, and eBay
classifieds sites, which together have a presence in more than 1,000
cities around the world. For more information about the company and its
global portfolio of online brands, visit www.ebayinc.com.
Amanda Miller, 408-219-0563
Source: eBay Inc.
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