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EBay Goes Through Executive Staff Changes
eBay announced several promotions and role changes affecting the company's executive staff.
The changes will broaden the leadership experience of eBay's top managers while spreading expertise throughout eBay's global organization.
Jeff Jordan, formerly Senior Vice President, eBay North America, has been named President of PayPal. Since joining eBay in 1999, Jordan has led eBay.com to achieve more than 400 percent growth in gross merchandise volume reaching $4.5 billion in the third quarter of 2004. Jordan brings unique insight to the job of building PayPal into an indispensable payment method for Internet users worldwide.
Replacing Jordan will be Bill Cobb. Formerly Senior Vice President of eBay International, Cobb assumes the role of President, eBay North America. Cobb has led eBay's expansion into Europe and Asia for the past two years. Under his leadership, gross merchandise volume for eBay International grew by 142 percent to $3.9 billion in the third quarter. Cobb has been with eBay for four years and brings a successful leadership formula to eBay's North American business unit.
Cobb will be replaced by Matt Bannick. Bannick was Senior Vice President of Global Online Payments, responsible for PayPal, and has been named President of eBay International. Bannick guided the talented PayPal team through enormous change and growth following the company's acquisition by eBay in 2002. Under Bannick's leadership, PayPal enjoyed total payment volume growth of 117 percent, reaching $4.6 billion in the third quarter. A six-year eBay veteran, Bannick brings extensive understanding of eBay and the Internet to his new role.
All three executives will continue to report to Meg Whitman, eBay's President and Chief Executive Officer.
"eBay has attracted enormously talented executives who are committed to the success of our community," said Whitman. "Jeff, Bill and Matt are among the best executives in business today. By changing roles, the organization gains from their experience and knowledge. I couldn't be more pleased by their success."
Maynard Webb, eBay's Chief Operating Officer, and Rajiv Dutta, eBay's Chief Financial Officer, will continue in their current roles, reporting to Whitman.
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