ebay inc (EBAY) Key Developments
eBay Inc. Announces Executive Changes
May 14 15
eBay Inc., which is in the process of separating eBay and PayPal to create two independent publicly traded companies, announced the directors who will serve on the boards of each standalone company following the separation. Each director was re-elected to the eBay Inc. Board at the 2015 Annual Meeting of Stockholders in May 2015. As previously announced, the new eBay Board will be chaired by current eBay Inc. director Thomas Tierney. Following the separation, the eBay Board of Directors will consist of the following additional directors: Fred Anderson, Edward Barnholt, Anthony Bates, Bonnie Hammer, Kathleen Mitic, Pierre Omidyar, Bob Swan, Perry Traquina and Devin Wenig. Fred Anderson will serve as Chairman of the Audit Committee, Kathleen Mitic will be Chairwoman of the Corporate Governance and Nominating Committee, and Edward Barnholt will be Chairman of the Compensation Committee at eBay.
eBay Inc. Announces Earnings Results for the First Quarter of Fiscal 2015; Provides Earnings Guidance for the Second Quarter Ending June 2015 and Full Year of 2015
Apr 22 15
EBay Inc. announced earnings results for the first quarter of fiscal 2015. The company reported first-quarter net income of $626 million, after reporting a loss in the same period a year earlier. On a per-share basis, the company said it had net income of 51 cents. Earnings, adjusted for restructuring costs and stock option expense, came to 77 cents per share. The e-commerce company posted revenue of $4.45 billion, up by 4% as compared with $4.26 billion in first quarter of 2014
For the current quarter ending in June, 2015 eBay expects its per-share earnings to range from 71 cents to 73 cents. The company it expects revenue in the range of $4.4 billion to $4.5 billion for the fiscal second quarter. GAAP diluted EPS in the range of $0.44 to $0.49.
EBay expects full-year 2015 earnings in the range of $3.05 to $3.15 per share, with revenue ranging from $18.35 billion to $18.85 billion. For the year, The company expects free cash flow to be between $1.7 billion to $1.9 billion, including one time costs associated with separation. the company continue to expect to generate approximately $4 billion in free cash flow for the year, with CapEx of 8% to 10% of revenue. CapEx in 2015 will be higher due to onetime costs associated with separating the businesses. GAAP diluted EPS in the range of $2.17 to $2.32.
eBay Inc. - Shareholder/Analyst Call
Apr 21 15
eBay Inc. - Shareholder/Analyst Call
eBay Inc. Announces Executives Appointments
Apr 14 15
eBay Inc. announced the appointment of three new executives who will fill key positions on CEO-designee Devin Wenig’s leadership team as the company prepares for
the separation of eBay and PayPal into independent publicly traded companies in the second half of 2015. Joining eBay are former Home Depot executive Harry “Hal” Lawton, who will head eBay North America; former Agilent Technologies executive Marie Oh Huber, who will become eBay’s General Counsel; and former NYSE executive Scott Cutler, who will lead StubHub. Lawton, who will be head of eBay North America, joins from Home Depot, where he has served as Senior Vice President (SVP) of Merchandising since 2013. Huber joins eBay from Agilent Technologies, where she served as Senior Vice President, General Counsel and Secretary since 2009, and as Vice President, Assistant General Counsel and Assistant Secretary from 2000 to 2009. Cutler, who will be President of eBay’s StubHub business, a global fan-to-fan ticket marketplace, most recently was Executive Vice President, Head of Global Listings, for the New York Stock Exchange.
eBay Inc. Announces Management Changes
Mar 23 15
eBay Inc. announced the appointment of two new independent directors in anticipation of completing its previously announced separation of eBay and PayPal. Tony Bates, President of GoPro, and Gail McGovern, President and CEO of the American Red Cross, have been appointed to eBay Inc.’s board of directors. The company also announced that current directors William C. Ford and Richard T. Schlosberg, who have served for 10 years and 11 years, respectively, have advised the company that they do not plan to stand for re-election to the board at the 2015 Annual Meeting. With the appointment of Mr. Bates and Ms. McGovern, eBay Inc.’s board currently is comprised of 17 directors, 15 of whom are independent. Additionally, eBay Inc. announced that Jonathan Christodoro has been elected to its board as part of the previously announced standstill agreement with Carl Icahn. Mr. Tony Bates brings 25 years of technology leadership, insight and knowledge to eBay Inc.’s board. He has an unparalleled track record of entrepreneurship and is a recognized technology leader with a keen ability to anticipate consumer and industry trends. He currently serves as President and member of the board of directors of GoPro Inc. He previously served as Executive Vice President of Microsoft’s Business Development and Evangelism group, leading its corporate strategy team. Prior to that role, he was CEO of Skype from 2011 to 2013, where he oversaw the company’s successful integration into Microsoft. Mr. Bates also is a member of the board of directors of Sirius XM Radio Inc. and Big Switch Networks Inc. Ms. McGovern brings deep management and financial expertise to the board, having served in senior leadership positions at some of the world’s large and most recognized companies and organizations. She has more than 28 years of corporate experience, including serving as President of Fidelity Personal Investments, a unit of Fidelity Investments, and Executive Vice President of AT&T’s Consumer Markets Division. She is the current President and CEO of the American Red Cross, where she has led a number of initiatives to improve the organization’s financial stability and expand the reach of its lifesaving services.