eBay Inc. CEO to bag $23m departure pay out
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.