eBay's President of eBay International Matt Bannick will transition out of that role later this year in order to spearhead eBay's initiatives in corporate philanthropy and the developing world. In this newly created position, Bannick will report directly to eBay Inc. President and CEO Meg Whitman.

Bannick will continue in his current position over the next several months, working closely with John Donahoe, President of eBay Marketplaces and his direct reports to ensure a smooth transition. More details of the transition plan will be announced later this year.

"Using the Internet for the good of regular people was the idea on which our company was founded, and it's still at the core of what we do," said Bannick. "At eBay I've been fortunate to travel around the world and see first-hand how people everywhere are empowering themselves through the Internet. I'm excited to build and manage our efforts around philanthropy and the developing world to help fulfill eBay's original vision."

Bannick joined eBay in February 1999 and has held several senior management roles. Bannick spearheaded eBay's early international efforts, expanding eBay's global presence from five countries in mid-2000 to 25 countries two years later. He solidified eBay's position in Europe through the acquisition of Paris-based iBazar and made additional acquisitions and investments in South Korea, China, Australia and Latin America. After eBay acquired PayPal in 2002, Bannick served as PayPal's first post-acquisition general manager. Under Bannick, PayPal's revenue more than tripled in its first two years with eBay. PayPal also developed a strong presence in the merchant services market and expanded globally, entering 10 new markets outside the U.S. In December 2004, Bannick returned to eBay International as president, where he oversaw the continued global expansion of the eBay Marketplace. In 2005, international activity accounted for approximately half of gross merchandise volume on the eBay Marketplace.