eBay Needs New Direction From Board and Leaders
eBay announced upcoming Board changes that will fall into place at the end of June, assuming shareholder approval. For investors it's an interesting time. It's pretty clear eBay needs some new dynamics in both the Board and Leadership.
eBay will have a new chairman of the Board, Paul Pressler. Pressler is an independent director who was nominated during Devin Wenig's time in 2015, directly following the PayPal split. Pressler was CEO Gap and former President of Disney Stores/Disneyland.
Two long-time Board members depart:
Thomas Tierney, and Fred Anderson. Both were nominated in 2003 during Meg Whitman's time (how far back do you have to go?). Tierney is the current Chairman of the Board and took over from none other than Howard Schultz of Starbucks’ former eBay Board role. Fred Anderson was chair of the eBay audit committee, who was forced to resign from Apple's board (he was CFO after Jobs came back) for stock option irregularities earlier in his career.
I still think the most interesting changes to come are if Jamie shakes up his management team, including Chief Product and Chief Technology officer, who are both relatively new in their roles for the past year - either promoted or appointed by Devin Wenig. Interesting times.