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EBay Hires Swan as New CFO
Online Stock Market Trading By Armando Duke
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Stock Investing Course (AXcess News) Houston - Electronic Data Systems (NYSE: EDS) CFO, Bob Swan, became the new Chief Financial Officer of eBay, Inc. (Nasdaq: EBAY) Tuesday. Swan was once the CFO of bankrupt online grocer, Webvan.
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Stock Market Game EBay's Rajiv Dutta is moving to Europe where he will become president of Skype, eBay's VoIP acquisition from last year. Dutta had served in the US as eBay's CFO.
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Stock Investing Game Swan joins eBay in mid-March.
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Journal Prime Rate Street Wall In the dot-com boom, Swan served as Chief Executive, operating and financial officer of Webvan from 1999 up till 2001 when the online grocer filed for bankruptcy.
Publishing personal contact information of any person in any public area of eBay, including emails, phone numbers, name, street address, etc.
Stock Market News On Wall Street, Swan is credited with the turnaround of Electronic Data Systems and even given kudos for his efforts in the now defunct Webvan.
Stock Investing Basics EDS said it named two interim co-chief financial officers, effective March 15. Tom Haubenstricker, whohas worked forElectronicData Systemsfor 21 years andRon Vargo, whowas hired in 2004 after working for what became TRW Automotive Holdings Corp. (NYSE: TRW) and for General Electric Co. (NYSE: GE).
Stock Investing Software Swan was brought into Electronic Data Systems Corp. three years ago to lead a management team in turning around the troubled computer services company.
Stock Market Trading EBay cut its deal with Swan Feb 10th. The new CFO is to receive a base salary of $600,000 with an 85 percent annual bonus. Swan also got a $1 million signing bonus, to be paid $200,000 in his second pay period and rest spread out in four equal payments, to be paid on the anniversary date of his signing.
Stock Investing For Dummy Frankly, they got Swan pretty cheap. But Swan's a turn around numbers cruncher and bringing him into eBay may signal pending problems with the world's largest online auction site.
Stock Market Crash eBay has faced growing numbers of turnover in its rank and file workers and it had one of the highest charge back rates of any online consumer goods provider in the United States. A number over looked by most analysts, but a bellwether indicator of sound management practices.
Stock Investing Tip EBay also faces thinner margins in China and higher costs. Its acquisition of Skype still has to prove itself as a sound investment at a time when major search engines are expanding into free online VoIP services of their own. All of which may set the stage for eBay needing a chief financial officer who clean up operations and keep costs in check as margins slow and competition rises.
Stock Market Chart Shares of eBay were up 25 cents, or 0.6 percent, at $41.05 in midday trading.
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