Donahoe Plans To Leave eBay’s Board

“Donahoe’s decision is being influenced in part by a desire to give current eBay executive Devin Wenig — who will become CEO upon the split — the freedom to run the company as he sees fit without having to answer to his former boss,” the story said. “Current eBay CFO Bob Swan will join eBay’s board should Donahoe follow through on his desire to serve only on PayPal’s.”

When PayPal announced the PayPal split plans, the statement said: “Neither Donahoe nor Swan will have an executive management role in the new eBay and PayPal companies. But to provide continuity, they each expect to serve on one or both of the boards of the two companies.”