eBay announced Bob Swan will join the company as Senior Vice President, Finance and Chief Financial Officer, eBay Inc., effective March 16, 2006. Swan comes to eBay from Electronic Data Systems Corporation, where he served as CFO and Executive Vice President. He will report directly to eBay CEO Meg Whitman and will be based in eBay's headquarters in San Jose, California. Swan replaces Rajiv Dutta, who will complete his transition to the new role of President of Skype, eBay's online voice communications business.
As CFO for eBay, Swan will assume responsibility and accountability for the financial activities and performance of the company. Swan will be responsible for all aspects of eBay's finance function including controllership, financial planning and analysis, tax, treasury, audit, mergers and acquisitions, and investor relations. He will also join the company's Executive Staff.
Swan is replacing Rajiv Dutta who was named president at Skype, which eBay acquired last fall. Dutta joined eBay in 1998 as finance director and will remain a member of eBay's executive management team.
According to SEC documents filed by eBay, Swan will be paid an annual base salary of $600,000, and will be eligible for a special retention bonus of up to $1,000,000, of which $200,000 will be payable within two payroll periods of his commencement of employment, and the remaining $800,000 will be payable in equal installments on the first, second, third, and fourth anniversaries of his commencement of employment, assuming his continued employment with eBay.. Swan will also be eligible to participate in the eBay Incentive Program, with a target annual bonus of 85 percent of his base salary. eBay will also assist Swan's relocation expenses from Plano, Texas to the San Francisco Bay Area.
