EBay boss gets pay lift despite profits plunge
The boss of eBay saw his pay shoot up 22% to $12.4 million (£7.5 million) last year after being handed a huge slug of shares, share options and perks such as personal use of a private jet.
President and chief executive officer John Donahoe's pay deal came despite eBay's profits falling from $2.39 billion to $1.8 billion during the year.
Filings made last night to the US Securities and Exchange Commission reveal that he had a salary of $920.538, a bonus of $736.538 and a further performance incentive of $1.2 million. But most of the value came in the stock element of his package.
Donahoe, who took over at the online auctions and Paypal operator in March 2008, was awarded shares valued at $5.6 million and options worth $3.7 million when they were granted - a 26% and 50% increase respectively. EBay's shares leaped 18% during the year.
His perks, described as "other compensation" rose by 42% to $245,655 - mostly for personal use of a company plane.
Donahoe spent much of the year overseeing an improvement in eBay.com with revamps to its search engine and the launch of a dedicated fashion site.
Upfront fees for sellers have also been cut, while it has invested in improving its home page.
