posted on May 1, 2006 09:05:44 PM new
The retirement of Webb was announced after the market closed today.
More News >>
COO Maynard Webb To Retire from eBay Inc.
May 1, 2006 5:00 PM ET
SAN JOSE, Calif., May 01, 2006 (BUSINESS WIRE) -- eBay Inc. (EBAY) today announced that Maynard Webb, its Chief Operating Officer, plans to retire from the company in August 2006. Webb is responsible for corporate operations, including the legal, human resources, and corporate technology functions. In 1999, Webb joined eBay as President, eBay Technologies, and in June 2002, he was named COO of eBay Inc. During his career at eBay, Webb also played an integral role in leading the development and growth of the company's product management, customer support, and trust and safety departments. Under Webb's stewardship, the eBay operations and technology teams built the foundation that enabled the company's unparalleled growth.
"I want to thank Maynard for all of his contributions to making this company successful, and wish him well as he starts the next chapter of his life," said Meg Whitman, President and CEO, eBay Inc. "In his time at eBay, Maynard built a world-class operations group that managed our phenomenal growth. He's been a great partner and a close friend, and I will miss him."
"Working at eBay for the past seven years has been an amazing experience," said Webb. "I've had the pleasure of working side-by-side with some of the smartest and most innovative people in the industry to build a community-oriented business that has changed people's lives. It doesn't get better than that."
eBay has no plans to fill Webb's role. Over the past year, Webb and Whitman oversaw the decentralization of many operational functions in order to better serve the business needs of the company's various platforms. Mike Jacobson, General Counsel, and Beth Axelrod, Senior Vice President of Human Resources, will report directly to Whitman. Corporate technology will be jointly managed by Matt Carey, Chief Technology Officer, eBay Marketplaces, and Scott Thompson, Chief Technology Officer, PayPal.
Prior to joining eBay, Webb was senior vice president and CIO at Gateway, Inc. He also worked as CIO at Bay Networks and managed technology operations at Quantum, Thomas Conrad, Figgie International, and IBM.
posted on May 1, 2006 09:28:15 PM new
"During his career at eBay, Webb also played an integral role in leading the development and growth of the company's product management, customer support, and trust and safety departments."
Ohhhh, so that's who we have to blame for all the stupid thing's ebay has come out with in the last few years. Guess he has siphoned enough money off us sellers over the last 7 years to take off the rest of his life in luxuary. Must be nice.
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein
posted on May 1, 2006 09:35:09 PM new
"Webb is responsible for corporate operations, including the legal, human resources, and corporate technology functions."
"corporate technology functions" Hmmmmm so he's the culprit that put all the stores in search and then removed them later. Was there anything in the announcement about a retirement party? If so, was there any mention of tar and feathers?
If Murphy's law is correct, everything East of the San Andreas Fault will slide into the Atlantic
posted on May 1, 2006 11:00:59 PM new
Here is some insider trading activity by the ebay crew since January 2006. A lot of money is changing hands ...
INSIDER & RULE 144 TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Type Transaction Value*
26-Apr-06 BARNHOLT, EDWARD W.
Director 4,500 Direct Purchase at $34.24 per share. $154,080
26-Apr-06 DUTTA, RAJIV
President 30,000 Direct Option Exercise at $10.0157 per share. $300,471
26-Apr-06 DUTTA, RAJIV
President 30,000 Direct Automatic Sale at $34.2093 per share. $1,026,279
25-Apr-06 WEBB, MAYNARD G. JR
Chief Operating Officer 50,000 Direct Option Exercise at $19.3875 per share. $969,375
25-Apr-06 WEBB, MAYNARD G. JR
Chief Operating Officer 50,000 Direct Automatic Sale at $34.8113 per share. $1,740,565
24-Apr-06 COOK, SCOTT D.
Director 153,636 Direct Option Exercise at $0.3889 per share. $59,749
24-Apr-06 COOK, SCOTT D.
Director 153,636 Direct Automatic Sale at $34.9451 per share. $5,368,825
21-Apr-06 TRUST NO 58802-0 DATED8/8/02
2,480,000 Direct Planned Sale $94,884,8001
31-Mar-06 SWAN, ROBERT HOLMES
Chief Financial Officer 50,000 Direct Acquisition (Non Open Market) at $0 per share. N/A
30-Mar-06 WEBB, MAYNARD G. JR
Chief Operating Officer 50,000 Direct Option Exercise at $14.5125 - $19.3875 per share. N/A
30-Mar-06 WEBB, MAYNARD G. JR
Chief Operating Officer 50,000 Direct Automatic Sale at $39.1087 per share. $1,955,435
30-Mar-06 WEBB, MAYNARD G. JR
150,000 Direct Planned Sale $5,850,0001
16-Mar-06 SWAN, ROBERT HOLMES
Chief Financial Officer N/A Direct Statement of Ownership N/A
14-Mar-06 JACOBSON, MICHAEL R.
Secretary 60,000 Direct Option Exercise at $0.0625 per share. $3,750
14-Mar-06 JACOBSON, MICHAEL R.
Secretary 60,000 Direct Automatic Sale at $38.64 per share. $2,318,400
1-Mar-06 COBB, WILLIAM C.
President 25,000 Direct Acquisition (Non Open Market) at $0 per share. N/A
1-Mar-06 JORDAN, JEFFREY D.
President 110,000 Direct Option Exercise at $14.5125 - $15.2422 per share. $1,637,0002
1-Mar-06 JORDAN, JEFFREY D.
President 110,000 Direct Automatic Sale at $39.9317 per share. $4,392,487
1-Mar-06 JORDAN, JEFF
220,000 Direct Planned Sale $8,800,0001
27-Feb-06 WEBB, MAYNARD G. JR
Chief Operating Officer 70,000 Direct Option Exercise at $14.5125 per share. $1,015,875
27-Feb-06 WEBB, MAYNARD G. JR
Chief Operating Officer 70,000 Direct Automatic Sale at $41.3981 per share. $2,897,867
17-Feb-06 BANNICK, MATTHEW J.
President 15,000 Direct Option Exercise at $14.5125 per share. $217,687
17-Feb-06 BANNICK, MATTHEW J.
President 15,000 Direct Sale at $41.6234 per share. $624,351
16-Feb-06 COBB, WILLIAM C.
President 40,000 Direct Option Exercise at $14.5125 per share. $580,500
16-Feb-06 COBB, WILLIAM C.
President 40,000 Direct Sale at $41.3034 per share. $1,652,136
16-Feb-06 COBB, WILLIAM C.
40,000 Direct Planned Sale $1,668,0001
15-Feb-06 JACOBSON, MICHAEL
120,000 Direct Planned Sale $4,070,0001
15-Feb-06 JACOBSON, MICHAEL R.
General Counsel 60,000 Direct Option Exercise at $0.625 per share. $37,500
15-Feb-06 JACOBSON, MICHAEL R.
General Counsel 60,000 Direct Automatic Sale at $40.5059 per share. $2,430,354
15-Feb-06 FORD, WILLIAM CLAY JR.
Director 25,000 Direct Purchase at $40.61 per share. $1,015,250
15-Feb-06 DUTTA, RAJIV
Chief Financial Officer 45,000 Direct Option Exercise at $10.0157 per share. $450,706
15-Feb-06 DUTTA, RAJIV
Chief Financial Officer 45,000 Direct Automatic Sale at $40.3401 per share. $1,815,304
15-Feb-06 DUTTA, RAJIV
90,000 Direct Planned Sale $3,658,5001
8-Feb-06 BANNICK, MATTHEW J.
President 20,000 Direct Option Exercise at $14.5125 per share. $290,250
8-Feb-06 BANNICK, MATTHEW J.
President 20,000 Direct Sale at $39.9948 per share. $799,896
8-Feb-06 BOURGUIGNON, PHILIPPE
Director 160,000 Direct Option Exercise at $18.7969 per share. $3,007,504
8-Feb-06 BOURGUIGNON, PHILIPPE
Director 160,000 Direct Sale at $39.9917 per share. $6,398,672
8-Feb-06 BOURGUIGNON, PHILIPPE
Director 160,000 Direct Planned Sale $6,388,8001
1-Feb-06 JORDAN, JEFFREY D.
President 110,000 Direct Option Exercise at $14.5125 - $15.2422 per share. $1,637,0002
1-Feb-06 JORDAN, JEFFREY D.
President 110,000 Direct Automatic Sale at $42.7565 per share. $4,703,215
1-Feb-06 DUTTA, RAJIV
Chief Financial Officer 45,000 Direct Option Exercise at $10.0157 per share. $450,706
1-Feb-06 DUTTA, RAJIV
Chief Financial Officer 45,000 Direct Automatic Sale at $42.7568 per share. $1,924,056
26-Jan-06 WEBB, MAYNARD G. JR
Chief Operating Officer 70,000 Direct Option Exercise at $14.5125 per share. $1,015,875
26-Jan-06 WEBB, MAYNARD G. JR
Chief Operating Officer 70,000 Direct Automatic Sale at $43.8498 per share. $3,069,486
24-Jan-06 TRUST NO. 58802-0 U/A 8/8/02
2,480,000 Direct Planned Sale $110,384,8001
23-Jan-06 COOK, SCOTT
153,636 Direct Planned Sale $6,827,5841
23-Jan-06 LEPORE, DAWN
140,000 Direct Planned Sale $6,221,6001
23-Jan-06 LEPORE, DAWN G.
Director 9,000 Direct Option Exercise at $18.7969 per share. $169,172
23-Jan-06 LEPORE, DAWN G.
Director 9,000 Direct Automatic Sale at $45.0667 per share. $405,600
23-Jan-06 COOK, SCOTT D.
Director 153,636 Direct Option Exercise at $0.3889 per share. $59,749
23-Jan-06 COOK, SCOTT D.
Director 153,636 Direct Automatic Sale at $44.2819 per share. $6,803,293
20-Dec-05 WEBB, MAYNARD G. JR
Chief Operating Officer 70,000 Direct Option Exercise at $14.5125 per share. $1,015,875
20-Dec-05 WEBB, MAYNARD G. JR
Chief Operating Officer 70,000 Direct Automatic Sale at $43.9808 per share. $3,078,656
20-Dec-05 WEBB, MAYNARD
200,000 Direct Planned Sale $8,800,0001
-----
Not bad. I wonder if Webb filed for his Medicaid prescription drug plan?
posted on May 2, 2006 04:52:15 AM new
If he is retiring, I don't believe he will be eligible for unemployment, however, he may be able to collect Social Security.
posted on May 2, 2006 07:48:18 AM new
Depending on his salary plus benefits, would his position be desirable to replace him? They want to save a few dollars. It is all about crunching the numbers when you have stockholders to account to.
mama
posted on May 2, 2006 08:07:49 AM new
Webb is only 50 years old you guys!
Here's another release:
SAN FRANCISCO, May 1 (Reuters) - EBay Inc. said on Monday that its chief operating officer Maynard Webb, the executive credited with fixing the online auctioneer's computer systems after a 22-hour outage in 1999, plans to retire.
EBay said Webb, 50, will leave the company in August. The San Jose, California-based company has no plans to replace Webb, spokesman Hani Durzy said.
Webb joined eBay seven years ago as president of eBay Technologies at a time of crisis that threatened the future of the company and ranks as one of the most costly computer outages.
In what company insiders remember as the "Big One," eBay lost millions of dollars in user fees during the June 1999 outage caused by a software glitch. It suffered a 60 percent drop in market capitalization in the months that followed.
In June 2002, he was promoted to chief operating officer, where he was responsible for company's core corporate functions such as legal, human resources, and corporate technology.
"He sees that the company is now in a position where he can retire without the operations skipping a beat," Durzy said.
Webb previously worked at Bay Networks, now part of Nortel Networks, and managed technology operations at Quantum Corp., Thomas Conrad, Figgie International, and International Business Machines Corp.
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posted on May 2, 2006 09:06:54 AM new
Wish I was him lol Retiring at age 50 with big bucks in the bank to live the rest of my life in peace. I'd spend my time sitting around staring out of a cozy cabin window in the mountains and watch wildlife till it got just plain out right boring ...then maybe travel a little. Eat out when I wanted.... ah the good life with no worries
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein
