By Tess Stynes And Maria Armental
EBay Inc. on Monday appointed two independent directors to its
board as the Internet marketplace gears up for the spinoff of its
PayPal payment unit this year.
The San Jose, Calif., company said it added to its board GoPro
Inc. President Tony Bates and American Red Cross Chief Executive
Gail McGovern along with Jonathan Christodoro, the latter as part
of a previously announced agreement with Carl Icahn, eBay's largest
active shareholder.
Shares, slightly up in recent after-hours trading, closed at
$58.62 on Monday.
Meanwhile, the company detailed in a regulatory filing its
executive compensation in 2014, including Chief Executive John
Donahoe, who will step down when the split is complete.
EBay also said directors William C. Ford and Richard T.
Schlosberg don't intend to seek re-election at the company's annual
meeting on May 1. At that time, eBay said its board will include 15
directors, 13 of whom will be independent.
Mr. Donahoe's total compensation was valued at $14.1 million in
2014, up 1.6% from the previous year, with a base salary of $1
million. Chief Financial Officer Robert H. Swam's compensation,
meanwhile, fell nearly 3% to $7.7 million.
PayPal CEO-designee Daniel H. Schulman's compensation was valued
at $38.7 million. Mr. Schulman joined the company from American
Express Co. on Sept. 30 as PayPal president. His total compensation
includes such things as income taxes reimbursement for temporary
housing and travel-related benefits.
Compensation for Devin N. Wenig, president of eBay's core
marketplaces unit who will take over as CEO of the new eBay, was
valued at $10.5 million, up 46% from the year earlier.
EBay in January said it planned to cut 2,400 jobs, add three
board members and explore the sale or spinoff of its eBay
Enterprise unit, which helps companies with their Web sales
efforts. At the time, EBay added to its board Frank Yeary, a former
Citigroup Inc. mergers and acquisitions executive, and Perry
Traquina, a former CEO of Wellington Management Co.
EBay said Monday that it remains on track to complete the
separation of PayPal in the second half of this year.
Write to Tess Stynes at tess.stynes@wsj.com and Maria Armental
at maria.armental@wsj.com
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