With eBay's stock near a 3-4yr low (thus limiting the appeal/golden-handcuff-ability of stock options) and with the recent departure of Jeff Jordan, the media and Wall St. are zoning in on the eBay Brain Drain.
We thought we'd start a new category here at eBay Strategies (uncreatively called 'eBay Brain Drain') for tracking some of this on the Blog.
To kick it off, there's an excellent story at Forbes: The PayPal Exodus .
Some highlights:
- "Elevating an eBay executive to run PayPal instead of finding someone
within PayPal to do it made a statement about how they wanted to run
things," Jackson says.
- (This one is startling) Former PayPal employees estimate that half of the 200 or so employees
who worked at the company's headquarters before the 2002 acquisition
have left;
- (followed up by this eBay PR flack gem) "Four years later, we're still proud of our retention of those people,"
she says. "We were able to keep PayPal's vision--and after some
acquisitions, that's just not the case."
To add to this anecdotaly, it seems like a very large percentage of the hundreds of eBay folks I've met over the years. Here's a short 10 minute blog between flights list:
- Shira Levine - Was an awesome category manager, then ran Powerseller program - now at Prosper.
- Sean Crotty (eBay blogger) - Moved to art.com to run their affiliate program
- Jeff Housenbold (used to run eBay API team and then marketing) now is CEO of shutterfly.com
- Doug Galen - Jeff brought him onboard over at shutterfly too.
- Jeff McManus - Jeff wins the "most changes award". Originally I met him as part of the Microsoft development community, then he was a Senior Manager with eBay's developer program. One week we had a meeting with Yahoo! to meet their new director of their developer program and BOOM, there was Jeff. (At the same visit we saw no fewer than five ebay people we hadn't known were at Y! now)
- Lynn Reedy - profiled in this Forbes article, Lynn ran a big chunk of engineering/product management throughout her tenure. Rumor has it she was very corporate (the trains run with X seats and thats how we do things - period!) and when Donahue came in they didn't get along to say the least.
- Dr. Ralph Werner (eBay Germany-super sharp guy with PHD in physics) after running corp dev, took over Mobile.de. eBay then put some BCS consultant-guy in charge and Ralph is no longer with the company.
This a handful of highlights, there have been several PMs, developers, marketing folks, category managers, etc. that have gone on to other opportunities from eBay/Paypal. Of course they are hiring new folks and these higher level departures sometimes clear the field for a great more junior person to progress up the ladder.
For execs, in addition to JJ, there's the retirement of Maynard Webb, COO which will happen in August.
That leaves these executives. Bill Cobb (took over for JJ running eBay ) has been around for a while as has Mike Jacobson and Rajiv (but he's in a new role)