eBay appointed Matt Bannick Senior Vice President, Global Online Payments, effective immediately. The company said that online payments will become increasingly important after the finalization of eBay’s acquisition of PayPal. PayPal shareholders will vote October 3 on whether to approve the acquisition, which is expected to be completed by the end of the year.
Bannick’s duties will include responsibility for the development of online payments. Bannick will work closely with PayPal CEO Peter Thiel as PayPal is integrated into the eBay platform. In addition, Bannick will oversee the phase-out of eBay’s current payment service, eBay Payments by Billpoint. Once the PayPal acquisition is completed, Thiel will report to Whitman as was previously announced.
Bannick, age 37, was head of eBay's international business. Bill Cobb, previously in charge of global marketing, has been named Senior Vice President, International. Cobb will be responsible for eBay’s global expansion and managing the company’s growing portfolio of international businesses and investments.
eBay’s marketing team will now report directly to Jeff Jordan, head of U.S. operations, to whom Cobb previously reported. Bannick, Thiel, Cobb and Jordan will all report to eBay CEO Meg Whitman.
