eBay Inc. Announces Changes to its Board of Directors

Rhea-AI Summary

eBay Inc. has appointed Aparna Chennapragada to its Board of Directors, effective immediately. Chennapragada, previously Chief Product Officer at Robinhood, brings extensive experience in AI and consumer products. This change follows Katie Mitic's decision to step down from the board, effective September 15, 2022. Paul Pressler, Chairman, expressed confidence in Chennapragada's ability to support eBay's tech-led strategy. eBay's board now consists of nine directors, with eight being independent, reflecting a commitment to diverse expertise.

Positive

• Aparna Chennapragada's appointment brings significant technology expertise, particularly in AI and consumer products.
• Chennapragada's previous experience at Robinhood and Google will enhance eBay's tech-led strategy.
• The board's increased independence and diversity support eBay's long-term strategic goals.

Negative

• Katie Mitic's departure may raise concerns about continuity and leadership experience on the Board.

New Independent Director, Aparna Chennapragada, brings significant technology expertise

Katie Mitic, Founder & CEO of SomethingElse, to step down from eBay Board of Directors

SAN JOSE, Calif., Aug. 24, 2022 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced the appointment of Aparna Chennapragada to its Board of Directors effective immediately. The company also announced that Katie Mitic has decided to step down from the Board of Directors effective September 15, 2022.

"We are excited to have Aparna join our Board of Directors," said Paul Pressler, Chairman of the Board, eBay Inc. "Aparna will bring extensive experience in consumer products and businesses powered by foundational technologies such as AI, Augmented Reality and Blockchain. Her expertise will help eBay, helping us to further support the company's tech-led reimagination."

"Separately, we want to thank Katie for her service to the Board of Directors," continued Pressler. "Katie has been with us since 2011 and has provided exceptional guidance, expertise and insights. As the Chair of the Nominating and Corporate Governance Committee, she helped guide the board through a number of changes over the years and helped shape it into a board that is richly diverse in backgrounds and perspectives that has helped support eBay's management team in executing its long-term strategy. Thank you, Katie, for your leadership and tremendous contributions."

Aparna Chennapragada brings deep operating, technology and product expertise to eBay. Until recently, she served as Robinhood's Chief Product Officer. Prior to Robinhood, Aparna was a Vice President and General Manager for AR and Shopping at Google. During her tenure with Google, she held various leadership roles focusing on AI, Visual Search and Product Insights. Previously, Aparna served on the Board of Directors of Capital One. Aparna holds an M.S. in Management and Engineering from Massachusetts Institute of Technology, an M.S. in Computer Sciences from the University of Texas at Austin and a B. Tech in Computer Science from the Indian Institute of Technology, Madras.

"eBay has made incredible progress on its strategy for their tech-led reimagination over the past two years, and I'm thrilled to be joining the board and helping to support their leadership team as they execute their goals to drive growth and create long-term value for shareholders," said Aparna Chennapragada.

As a matter of practice, the Board of Directors regularly evaluates the composition of the board and considers how they can maintain the appropriate mix of skills, qualifications and diversity of backgrounds to best oversee the business and long-term strategy of the company. Following these changes, eBay Inc.'s Board of Directors will be composed of nine directors, eight of whom are independent.

About eBay Inc.
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2021, eBay enabled over $87 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

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SOURCE eBay Inc.

FAQ

Who is the new director appointed to eBay's Board of Directors?

Aparna Chennapragada has been appointed as the new director.

What is the background of Aparna Chennapragada?

Aparna Chennapragada previously served as Chief Product Officer at Robinhood and held various leadership roles at Google.

Why did Katie Mitic step down from eBay's Board?

Katie Mitic decided to step down from the Board, effective September 15, 2022, after providing exceptional guidance since 2011.

How many directors are on eBay's Board of Directors after these changes?

Following these changes, eBay's Board of Directors will consist of nine directors, with eight being independent.

When did these board changes at eBay take place?

The changes were announced on August 24, 2022, with immediate effect for Chennapragada's appointment.