Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Thu Dec 18 2014 20:49:09

eBay Gives Top Execs a Golden Handshake

By: Ina Steiner

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While sellers, employees, and shareholders anxiously await word of how the eBay-PayPal breakup will play out and how it will affect them, first things first. eBay's Board of Directors made sure the company's top-tier executives including CEO John Donahoe will be well compensated after the split.

On December 15, 2014, the Compensation Committee of the Board of Directors of eBay Inc. adopting the "Transaction Success and Retention Program," which includes the following provision:

"The benefits for the CEO and CFO would include a cash payment equal to two times annual base salary and two times the annual cash incentive paid at the target amount, as well as the acceleration of all restricted stock unit and stock option awards that were outstanding and unvested as of the date of termination of employment."

Such retention provisions are usually written into an executive's contract when newly hired - called a golden handshake - to offset the risk of taking a new job. Since that's not the case, why is the board offering it, and why call it a retention program? After all, Donahoe said he would leave after the split.  

"Under the terms of the arrangement, called the Transaction Success and Retention Program, each Departing Executive Officer would be entitled to certain benefits in the event the officer remains employed through the separation of the Company's ecommerce and payments businesses and his or her employment is terminated at the time of separation."

The executives made the decision to break up the company and already committed to staying on and seeing it through to completion. Yet the eBay board feels obligated to promise them a fortune to stay on. Does anyone else think this is over the top?

As far as I know, the CEO and CFO are not obligated to accept this golden handshake - but what are the chances they'll decline to accept it?




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Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

by: DingDong This user has validated their user name.

Thu Dec 18 20:56:13 2014

I hope that no Corporation will hire this guy.
And I hope he can survive on the meager $23 million.

I can't believe they reward this putz.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: Basset

Thu Dec 18 20:59:56 2014

Why wouldn't they take it.

Golden Handshake for the elite - Golden Shower for the sellers.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: Ric

Thu Dec 18 21:43:53 2014

Why pay them to stick around after all, it is their job until such time there is no longer a position for them.

This kind of lavish expenditure is simply outrageous. Given that eBay will be standing alone after the breakup, this kind of executive welfare is simply unconscionable.


It is almost as if the company is trying to guarantee that the marketplace will be decimated with the inherited debt after the breakup and completely stripped of funds which will be needed to maintain it's business footing after the PayPal profits are no longer there to prop up the marketplaces bottom line.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: bitbybit

Thu Dec 18 21:47:31 2014

On the Comcast home page there is an article IRS Warns Tax Refund May Be Delayed. When you click to read it this is what comes up: EBay CEO to get $23 mln exit package after PayPal split

Deepa Seetharaman

There is no article on the IRS tax refund delay. Refunds being delayed due to corporate greed?

Taking from sellers and not showing listings to pay an arrogant CEO and CFO should not be considered compensation but theft.

Here is the CNBC reuters article: http://www.cnbc.com/id/102282536?__source=xfinity mod&par=xfinity  

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

by: Russ This user has validated their user name.

Thu Dec 18 21:51:06 2014

And just think how the once Golden Goose must feel right about now...Ouch!

And Basset, if I were still selling on eBay, I would start listing umbrellas, right away!  Great comment...thanks for the chuckle...but so true.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: Map

Thu Dec 18 21:59:30 2014

Hey ebay employees!

Your fearless leader just abandoned ship with all the money and you will be getting a pink slip and maybe a Ebay Brand Wireless Interaction Speaker as a separation gift for your loyal service.

Calling all ebay employees to join the revolt to stop these wicked men.

Turn on ebay while you still have a chance to release documents and report their criminal enterprise to the authorities.

John Donahoe & crew are cashing out and once they sell ebay then they get away free and will never face jail time.

Ebay employees and Sellers we must fight together and stop the planned sale of ebay.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: bitbybit

Thu Dec 18 22:14:32 2014

Good one Basset!

How about this, printed on the umbrella:

Ebay's CEO gets a Golden Handshake..

and all I got was a Golden Shower.

For T-shirts:

and all I got was a Golden Shower...and this t-shirt.

These could make a fortune on ebay....oh wait, forget about it. The listings would not be visible but ebay will gladly take your fees.  

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: LDS Brother

Thu Dec 18 22:30:37 2014

I just posted this the other day on the 17th of Dec. Now today I see Master Donahoe is riding off into the sunset with $23,000,000 after literally ruining my life, and countless others, who desperately needed to earn $200 to $500 a week to literally survive !

What an abomination that Donahoe was rewarded with that for the pain he inflicted on everyone ! Well below is my post from the other day, and Map and me are right in telling you lower level eBay employees your future is at steak also ! Donahoe got his reward !:

ATTENTION:

My advice for the current lower level eBay employees Customer service Reps is this:

You have been on the front lines since 2008 dealing with the injustice done to sellers, hearing our legitimate complaints when we are screwed over unfairly, our pain, our tears etc.

Well I got news for you lower level eBay employees, YOUR FUTURE is at stake also !

I suggest when you have staff meetings, etc. you all start suggesting to your masters that they lighten up and make eBay more fair and level a playing field again, as eBay is dying rapidly !

3,000 of you are getting canned in 2015 for your dedication and brown nosing, and hanging up on us EVIL sellers, even when we were being honest about how we were screwed, and you did nothing, but tell me and others to "GET OVER IT" low DSR sticks for 1 year !

Well eBay lower level employees, KARMA IS A BITCH !!!!

Now 3,000 of you are going to have to just "GET OVER IT" when your laid off, and many more are gonna follow if Wenig chooses to follow ( in my opinion) the lunatic, evil, un empathetic, unfair and greedy SOB John Donahoe's path !

Small, Medium sellers, AND the lower level eBay employess, ALL Have no future unless Wenig does something drastic to restore eBay !

Currently is is the MOST HATED site from sellers and buyers in the World, and Donahoe is probably the most hated CEO on the planet !

His 1 size fits all, for sales, punishment etc Bullshit shows that man's total lack of understanding how eBay worked !

We ALL have a stake in this lower level eBay employees, start making your best suggestions to your supervisor's cause there is not much time left for Wenig to save eBay from Donahoe's destruction, till eBay just collapses from this stupidity under Donahoe's reign !

3,000 down and more to get Pink Slips also IF someone does not talk sense into Wenig, to get this stopped and try to turn it around, IF it even can be ?

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: Philip Cohen
Web Site

Thu Dec 18 22:45:41 2014

Unbelievable …

It would be cheaper to keep the chief headless turkey on at eBay and let the cretin go down with the ship ...

I’m still trying to figure out how they measure “performance” at eBay; the shareholders have never had even one penny in cash dividend; Johnny Ho has been effectively in control of eBay since August 2007, when both eBay and Amazon’s share prices were ~$40. Today eBay is $57 and Amazon is $298. Where is the performance at eBay? You can have all the “performance” you like but if the shareholders see no benefit from it, what is the point?

The eBay executive suite—where the incompetent mingle with the disingenuous, the malevolent and the outright criminal, and the just plain stupid ... http://bit.ly/11F2eas

With credit to Basset …

“Golden handshakes” for eBay’s chief headless turkey, Johnny Ho, and the other flightless bird running the Enron spreadsheet—“golden showers” for everyone else …

The eBay executive suite—where the incompetent mingle with the disingenuous, the malevolent and the outright criminal, and the just plain stupid ... http://bit.ly/11F2eas

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

by: NetWatch This user has validated their user name.
Web Site

Thu Dec 18 22:57:51 2014

Is there no mechanism in place that can put a stop to such OBSCENITY???

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: Ming the Merciless

Thu Dec 18 23:03:27 2014

Obscene.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: iheartjacksparrow

Thu Dec 18 23:04:09 2014

It's a shame Kim Jong Un wasn't upset with eBay. Can you imagine all the wonderful hacked e-mails we'd be able to read about JD and his cohorts and how their devious plans against small sellers were created?  

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: WOODJUNGLE! ON EBAY

Fri Dec 19 01:12:14 2014

Corporate greed is alive and well.  Sociopaths-the lot of them. That's the only thing that can explain anything they justify to do what they  do and take what they take. The really sad thing is is that it is respected, revered and taught as something to strive for in this country. You don't have to ask why this country is so F-d up. It's all right here.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

by: balloo This user has validated their user name.

Fri Dec 19 02:34:19 2014

How many mad , & I mean mad sellers are out there?  If ebay is not carefull , they may end up on charges , & taken over by complete government control , which is what is needed. You live in the US , you do business in the US , you should do better to act like americans , rather than whats killing us. The feds need to stomp on their asses.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

by: brokentoys19 This user has validated their user name.

Fri Dec 19 03:30:38 2014

Game, set and match for Donahoe!

Merry Christmas Mr. Donahoe.

http://youtu.be/RhCXCg1Ah7w

Ho ho ho

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

by: maxmad This user has validated their user name.

Fri Dec 19 05:52:58 2014

Almost home free, all that's left now, is to move to a country with no extradition treaty,  

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: The End

Fri Dec 19 06:17:01 2014

I gotchyer Golden Handshake right here ya Bstds.
Rot in Hell.
John Donahoe is now mentally feable. So, he's getting his right now.
Although he deserves NOTHING, he'll be retiring to a nursing home with Real Nurses.
I'd love to be a fly on the wall there.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

by: P.Dorf This user has validated their user name.

Fri Dec 19 06:56:36 2014

sheeesh.......after just cashing out 93 mil....just how much is enough (rhetorical Q)

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: Rexford

Fri Dec 19 07:21:53 2014

I think that we can all clearly see that one of the biggest problems with this company is the Board of Directors.

This is one of those articles that leaves me shaking my head.

I can honestly say that I loathe this man and everything he represents.  In my mind he's not worth 23 cents.

Perminate Link for eBay Gives Top Execs a Golden Handshake   eBay Gives Top Execs a Golden Handshake

This user has validated their user name. by: Ed Gadfly

Fri Dec 19 07:28:25 2014

After all the eBay stunts this year they top themselves once again.

But this time they topped themselves off with $$,$$$,$$$.$$.

Not bad work if you can get it. Actually, not bad money for very bad work turned in.

Two times the yearly salary plus stock options... you can not make this up. Well, they DO save a lot of money on electricity. They run the servers hot, and if your stuff does not show up, they do not need electricity to make your pixels glow.

They do not spend a fortune on computer programers, customer service and training.

Johnny Boy said in a few years you would not recognize eBay. Truer words have never been spoken.

If you stay on eBay you subsidize your ruin.
Nobody will help you, not the media, not the government, not the courts, not your buyers and not even your fellow eBay victim sellers.

So, look at that and look at your sales for this season.

Ming, Comet, LDS Brother... are you guys going to stay for another year?

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