June 25, 2002 11:30 AM PDT
eBay assigns new duties to execs
Webb is one of several eBay executives who will assume new, additional duties. Jeff Jordan and Matt Bannick, who head eBay's U.S. and international operations, respectively, will now also serve as co-chief revenue officers for the company. Chief Financial Officer Rajiv Dutta will add the title of chief strategist to his portfolio.
"Our users are counting on us to help them build the world's best marketplace," Meg Whitman, eBay's chief executive, said in a statement. "As eBay continues to grow, it's critical for the community that we apply all of our resources in a coordinated fashion."
eBay representatives did not return calls seeking comment.
In his new role as COO, Webb, 46, will run eBay's daily operations. Webb, who already is in charge of eBay's customer support and product development in addition to technology, will continue to run those divisions.
eBay did not say what new duties Jordan, 43; Bannick, 37; and Dutta, 40, will assume in their new roles.
Webb will take over for Brian Swette, who stepped down as eBay's COO in December. Swette had been managing eBay's day-to-day operations as COO since November 1999. Swette, 48, is senior vice president of corporate development.
eBay hired Webb in 1999 after a series of multi-hour site outages stymied trading on the site and infuriated users. Under Webb's direction, eBay put in place a backup system that has largely prevented major outages. Webb has overseen eBay's efforts to distribute its database on different servers and is in charge of the company's "V3" technology upgrade, which will include real-time updates for eBay's data warehouse and minute-by-minute updates for listings, currently updated once per hour.
Webb has been well-compensated for his efforts. He earned $1.1 million in salary and bonus last year--nearly three times what Whitman earned. Additionally, he exercised stock options worth $4.8 million last year.
eBay did not say how Webb's new title will affect his salary.
eBay is not the only dot-com to see a proliferation of executive officers and titles. E*Trade drew criticism earlier this year for having some 12 executives with "chief" titles.