According to Reuters, outgoing eBay Inc. CEO John Donahoe will trouser $23m when he steps down in 2015 after the eBay PayPal divorce. This is presumably on top of the package of salary, perks and stock options he already enjoys as the head of the currently united company.
The terms were approved by eBay’s board on December 15th according to company documents and other executives will also enjoy tasty farewell packages. CFO Bob Swan will walk out with a predicted $12m stack.
“John’s transition package is closely tied to the performance of the company during the separation period and the company’s stock price at the time of separation” according to eBay spokeswoman Amanda Miller.
It just goes to show what’s uppermost on the minds of eBay execs as the terms of the PayPal and eBay split are considered. Serious concerns about how the new companies will co-exist are vital but the bunce pile for outgoing senior staff is already the key concern. It’s rather depressing.
9 Responses
Not surprising really.
We’ve realised most of the problems on Ebay are engineered to make the company money.
Every error results in a trickle of pennies or cents to Ebay through fees they shouldn’t be getting.
It also explains the reluctance to fix these “minor” glitsches.
This adds up to millions of pounds / dollars a day across Ebay worldwide.
So, hey, Merry Christmas, Mr. Donahoe and your £23 million pay out.
Because you’re worth it.
How much did his reign add to the eBay net worth?
I always wondered where my ever increasing and excessive fees were going – now I know! But i’m really happy as I know we all get great value from those that run the show and of course with eBay being such a nice “community” I expect JD will do the decent thing and share it with all the members.
Long live the Revolution!! 🙂
Don’t care how much he makes just as long as he is gone!
Turned ebay from a tool of empowerment into a machine that squeezes and starves you until are dead. Has it been worth it? How has the share price performed compared to Amazon?
Good riddance
lots of love,
small uk businesses
Lets not dance round the subject here. They are planning to cull thousands of jobs and at the same time dish out this kind of money to JD. It stinks, morally repugnant. I remember having a conversation by a stonewalling CS rep about the unfairness of the defect system; they were adamant it was fair and were cheerleading away for this company. I politely told them their jobs would be on the line as is our small business if this slippery slope continued; well here you have it; lovely ethics…. Getting trimmed up and prepped for sale to to the lowest bidder come the paypal split (they need to be careful not to load it with too much rotten wood or even allibaba will not touch it).
2014 has given us massively flawed defect system, massive hack(s?) which took over two months to let us know (just after AGM…), continual site crashes and down times, lower profits than expected, google search demotion, lower sales, fee increases, managed returns. Yep, job well done JD, you earned that bonus.
Shall be an interesting 2015
Ebay has gone from the easily accessable, profitable and “fun” place to sell to the disaster of feebay/evilbay – which is starting the journey to being just ONE of the various sales sites, making buying and selling more challenging (harder). The only way back is to welcome the banned sellers back and never ban anyone again for piddling dsr/ feedback offences.