The leading e-commerce company eBay Inc (NASDAQ:EBAY) has decided to make some changed in the structure of its board of directors. As per the reports, the company has added two new independent directors in BOD. The announcement has come just ahead of company’s decision to split its payment division PayPal from its marketplace division.
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As per the reports, the company is planning to part its ways with PayPal towards the end of the current year. While giving the details of new independent directors, eBay stated on Monday that it had appointed Tony Bates and Gail McGovern to its board. Gail McGovern is the Chief Executive Officer of American Red Cross while Toney Bates is the President of GoPro Inc.
Rumors about eBay’s split with PayPal had been hitting the market for quite some time, but it never looked as if the decision would come so early. Market experts claim that this might affect the image of both the companies, in the long run. The actual reasons for this sudden announcement of parting ways with PayPal are not yet known.
eBay Inc (NASDAQ:EBAY) is considered as one of the largest e-commerce websites in the world. It secures a place among top five e-commerce websites in United States and the rest of the world. Recently a few complaints concerning wrong payment and unnecessary charges were registered by customers in U.S. and other countries. Even though eBay has not yet cleared its stand, but experts think that this could be one of the reasons behind eBay’s decision to part ways with PayPal.
Even though there are many payment gateways available across the world, but PayPal truly secures the most prominent place among them. Its network is undoubtedly the best in the world. It’s not the first time when an unexpected issue has hit PayPal. There were issues concerning its top management earlier, and now this issue with eBay has deeply hurt PayPal’s image globally.