Former eBay CEO Meg Whitman Launches Family Foundation
By Ina Steiner
Former eBay CEO Meg Whitman launched a private foundation called the Griffith R. Harsh IV and Margaret C Whitman Charitable Foundation. The married couple donated 300,000 shares of eBay stock with an estimated fair market value of $9.4 million to the foundation in December 21, 2006.
Whitman joined eBay in 1998 and served as President and CEO, stepping down 2 months ago. She told Conde Nast's Porfolio's Amy Wallace in a May interview that her second priority - after making sure the eBay management transition goes well - is her foundation, which she said doesn't yet have a mission statement.
"We don't have a system yet for how we're going to make these grants, how we're going to measure them. We don't have someone yet to run the foundation. So I would like to spend a lot of 2008 really focused on that." (http://seekingalpha.com/article/73234-life-after-ebay-an-interview-with-meg-whitman).
Harsh and Whitman are trustees of the 501(c)(3) exempt private foundation, and the Ayco Company, L.P., a Goldman Sachs Company, is the administrator.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to email@example.com.
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