eBay Founder Pierre Omidyar Steps Down From Board

eBay sign at San Jose corporate headquarters

eBay announced several changes to its board of directors. The most notable change is that eBay founder Pierre Omidyar will step back from board responsibilities and transition to the role of Director Emeritus.

“For 25 years, I’ve watched with pride as the company I created enabled economic opportunity for people around the world. With sound strategy and leadership in place, I can transition to the role of Director Emeritus with confidence,” said Pierre Omidyar, Founder of eBay.

Separately, the company also revealed that Jesse Cohn will step down from the Board of Directors effective immediately.

Cohn is a partner in Elliott Management, one of the investment groups that pushed the eBay board to sell StubHub and its classifieds group.

“eBay is a tremendous company and has been a terrific investment for Elliott Management. It was a pleasure to serve on eBay’s Board of Directors for the past year and a half. I want to thank my fellow directors for their collaboration, and I would like to wish Jamie and all of eBay’s talented employees continued success,” said Jesse Cohn.

eBay’s New Directors

To replace these two board members, eBay appointed Carol Hayles and Mohak Shroff to its Board of Directors.

“We are delighted to add Carol and Mohak to our board,” said Paul Pressler, Chairman of the Board, eBay Inc. “Their appointments will add significant experience and expertise at a critical time to support the technology-led reimagination of eBay.” 

“We want to thank both Pierre and Jesse for their service to the Board of Directors,” continued Pressler. “Pierre invented eBay 25 years ago and has been instrumental in helping make the company what it is today. We are grateful for his guidance and we will continue to realize his vision.” 

“Jesse brought strong leadership skills and a technology investor’s perspective to the board. His input was extremely helpful with eBay’s operating and portfolio reviews which resulted in margin expansion, the sale of StubHub and the agreement to transfer eBay Classifieds to Adevinta – all of which increased long-term shareholder value,” concluded Pressler.

Carol Hayles brings deep operating and financial expertise to eBay. She currently serves on the Board of Directors of Webster Financial Corporation, where she is Chair of the Audit Committee, and on the Board of Directors of Blucora, Inc., where she is Chair of the Compensation Committee.

Carol was previously the Executive Vice President and Chief Financial Officer of CIT Group, Inc. Prior to CIT Group, Carol held several management positions during her 24-year tenure at Citigroup, most recently as Deputy Controller.

“This is a very exciting time for eBay, and I am delighted to be joining the board supporting eBay’s best-in-class leadership team, to help execute the strategy to drive growth and build long-term value for shareholders,” said Carol Hayles. 

Mohak Shroff currently serves as the Senior Vice President of Engineering at LinkedIn Corporation, where he leads engineering, operations, IT and security.

Mohak brings significant technology leadership to the Board of Directors including building out LinkedIn’s advertising platform, Subscription and Jobs products as well as scaling the company’s payment system.

He has previously served in other engineering management positions during his 12-year tenure at LinkedIn and prior to that, as the Principal Software Engineer at Ariba, Inc.

“I am thrilled to be joining eBay’s Board of Directors at a pivotal time in its history,” said Mohak Shroff. “eBay is a tech pioneer and I am excited to support the team through the technology reimagination to accelerate innovation and help serve the evolving needs of eBay’s buyers and sellers.”

Following these changes, eBay Inc.’s Board of Directors is composed of 13 directors, 12 of whom are independent.

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