After The Ebay Is Split, The Current CEO Will Join The Paypal Board.
The US technology blog Re/code quoted sources as saying that after the split of eBay and PayPal next year, eBay's current CEO John Donohue (John Donahoe) is likely to quit from the eBay board.
According to sources, Donohue said he plans to join the PayPal board.
He previously said publicly that he would join the board of directors of one or two companies.
According to sources, Donohue's decision is partly due to the greater freedom he wants to give eBay CEO Devin Wenig (Devin Wenig) to develop the company.
If Donohue leaves the eBay board, he will no longer have to report to his former boss.
If Donohue decides to quit eBay
Director
The current eBay chief financial officer Bob Swan (Bob Swan) will take over his post.
EBay spokesman
Alan Marks
(Alan Marks) indicates that the composition of the future eBay board will be finalized only when eBay is close to splitting.
In September of this year,
EBay
It is announced that PayPal will be split into an independent listed company in less than 1 years.
Earlier, the radical investor, Karl Icahn (Carl Icahn), has pressed eBay to ask eBay to do so.
When Icahn started the operation, Donohue once said that investors' suggestions were not in line with the development trend of the industry.
In an interview in January, he said: "what I want to say is that business and payment are merging, rather than separating each other."
But by September, Donohue's view had changed.
After joining the PayPal board, Donohue will focus on this fast growing business.
In the third quarter of this year, PayPal revenue grew 20% to 1 billion 950 million US dollars, which is far from the eBay core market business.
The latter's revenue in the same period was $2 billion 600 million, but the growth rate was only 6%.
At this rate of growth, PayPal's revenue will exceed eBay in just a few quarters.
After spin off, eBay and PayPal still have a commercial cooperation agreement. It is not yet clear what the financial implications of the agreement will be for the two companies.
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