|Fri Apr 6 2018 20:11:21|
eBay Board Concerned for Security of CEO Devin Wenig
By: Ina Steiner
Concerned about the security of eBay CEO Devin Wenig, the company's board of directors encouraged him to use the company airplane for personal travel. According to its proxy statement released this week:
"Prior to September 2017, Mr. Wenig had access to the corporate airplane for up to 50 hours of personal travel, subject to Mr. Wenig fully reimbursing the Company for the incremental costs associated with such use.
"Beginning in September 2017, the Compensation Committee encouraged Mr. Wenig to use the corporate airplane for personal travel where relevant to reduce possible security concerns."
We sent an inquiry to eBay spokesperson Ryan Moore asking why the board had become more concerned about the CEO's security last year, and if there had been a security incident or increased threat of a security incident that triggered the board's concern.
Moore did not respond to our inquiry by press time.