is shaking up management, promoting three of its top executives, the online auction giant announced Thursday.
As part of the move, Jeff Jordan, Bill Cobb and Matt Bannick will all assume the title of president of various divisions within the company. Each of the three previously held the title of senior vice president and will continue to report to company CEO Meg Whitman.
The company did not say when the changes will take effect. An eBay representative did not return calls seeking comment.
eBay named Jordan the president of PayPal, its online payments division. Formerly in charge of eBay's North American operations, Jordan joined eBay in 1999 after serving as an executive at
Jordan replaces Bannick as head of eBay's payments division. Bannick, who also joined eBay in 1999, will become president of eBay's international operations. Bannick, who has served in a number of executive positions at eBay, previously worked as an executive for
and as a consultant at
McKinsey & Co.
Bannick will replace Cobb as the head of eBay's international division, which oversees the company's sites and affiliates in Europe, Asia and Latin America. Cobb, meanwhile, will replace Jordan, becoming president of eBay's North American division. An executive at eBay since 2000, Cobb formerly worked at
as general manager of consumer sales.
eBay did not say how the promotions will affect the compensation it pays to Jordan Bannick or Cobb. According to eBay's regulatory filings, the three ranked as the third through fifth best-paid employees at the company.
eBay paid Jordan $1.3 million in salary and bonus last year, plus another 300,000 in stock options. Those options are worth about $23.5 million at current stock prices, assuming they were exercised immediately.
Bannick earned about $1.02 million in salary, bonus and other compensation last year. eBay also awarded him 300,000 stock options.
Cobb received $753,591 last year in salary, bonus and other compensation, plus another 250,000 stock options. Those options would be worth about $19.6 million at current stock prices if exercised today.
eBay made the announcement after the bell on Thursday. In recent trading, the company's stock was up 69 cents, or 0.6%, to $117.67. eBay's shares closed regular trading up $3.19, or 2.8%, to $116.98.