eBay's online payment-service subsidiary PayPal announced Scott Thompson has joined the company as senior vice president and chief technology officer. Thompson, who brings more than 20 years of experience to the position, will report to PayPal President Jeff Jordan and eBay Chief Operating Officer Maynard Webb.

In his new role, Thompson will oversee information technology, product development and architecture for PayPal, which transacted more than $18 billion in total payment volume and processed about 340 million payments in 2004.

Thompson comes to PayPal from Inovant, a subsidiary of Visa formed to oversee global technology for the organization. As executive vice president of technology solutions at Inovant, he was responsible for all development, support and maintenance of Visa's global payment system, which processed tens of billions of transactions in 2004. Prior to Visa, Thompson was chief information officer of Barclays Global Investors, where he implemented a new strategic technology platform and global infrastructure.

Thompson will replace Chuck Geiger, vice president and chief technology officer for PayPal. Geiger decided to leave the company after five years with eBay and PayPal. During this time, he helped to define the scalable and reliable infrastructure on which eBay runs. Geiger joined PayPal in March of 2003, where he increased engineering capacity ten-fold and was instrumental in building the architecture that enabled PayPal's explosive growth.

A copy of the offer letter between eBay Inc. and Scott Thompson outlining Thompson's compensation package is found on the SEC Website.

http://www.sec.gov/Archives/edgar/data/1065088/000129993305000560/exhibit1.htm