Katie O'Brien
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Katie O'Brien in Senior Content Editor,

eBay and PayPal Split, hire New Directors

PayPal (NASDAQ: EBAY) will soon break from eBay, according to Tech Crunch, and in preparation has hired a few new big-name directors. President of GoPro Tony Bates and President and CEO of the American Red Cross Gail McGovern will be added to PayPal’s Board of Directors.

According to Tech Crunch, the board currently has 17 directors of which 15 are independent. Further, at the next director election, two current directors, William C. Ford and Richard T. Schlosberg will step down.

“The appointments of Tony and Gail to the board represent our commitment to adding highly qualified independent directors in preparation for creating two world-class boards,” said John Donahoe, President and CEO of eBay Inc. in a statement, Tech Crunch reported. “Tony and Gail are accomplished leaders. We look forward to their valuable insights and contributions as we launch two dynamic, global companies that are well positioned to create lasting value for their shareholders and customers.”