Andy Cring has been interim Chief Financial Officer (CFO) at eBay since a reshuffling in September 2019 following Devin Wenig’s abrupt departure as CEO. Twenty months later, eBay finally named a permanent CFO.
Steve Priest will join eBay on June 21, 2021 in the role of Chief Financial Officer reporting to Jamie Iannone, who was named permanent CEO effective April 27, 2020.
eBay will pay its new CFO a base salary of $750,000, a target bonus opportunity of 100% of base salary (prorated for 2021), and eligibility for annual equity awards beginning in 2022 (which, for 2022, will have a grant date value of at least $5.5 million).
Priest will also receive another $10 million new-hire equity awards vesting at different rates, and another $4 million in equity transition payments.
Priest, who comes from JetBlue, will oversee all global aspects of eBay’s financial operations including controllership, financial planning and analysis, tax, treasury, audit, mergers and acquisitions, and investor relations
As for Cring, he will continue in his role of Interim CFO until Priest joins eBay at the end of next month, after which he will assist with the transition. Presumably he will leave the company after the transition, as Steve Schenkel had done after his time as Interim CEO was over.
You can find the news on the eBay corporate blog.