eBay Inc. Announces New Member to Board of Directors

Rhea-AI Summary

eBay Inc. (Nasdaq: EBAY) has announced the appointment of William (Bill) D. Nash to its Board of Directors, effective September 18, 2024. Nash, the current president and CEO of CarMax, brings extensive experience in retail, e-commerce, and technology development to eBay's board.

Nash's appointment is expected to contribute to eBay's strategy and focus on sustainable, long-term growth. Under Nash's leadership, CarMax has undergone a significant transformation, investing in technology and digital initiatives to become an omnichannel retailer. Nash has been with CarMax since 1997, holding various senior roles before becoming CEO in 2016.

Following this addition, eBay's Board of Directors will consist of eleven members, with ten being independent. The board regularly evaluates its composition to maintain an appropriate mix of skills, qualifications, and diversity to oversee the company's business and long-term strategy effectively.

Positive

• Appointment of experienced retail and e-commerce executive Bill Nash to the Board of Directors
• Nash's expertise in building customer loyalty and trust could contribute to eBay's growth
• Addition of Nash aligns with eBay's focus on sustainable, long-term growth
• Increased board diversity and expertise with 10 out of 11 directors being independent

Negative

• None.

New independent director, Bill Nash, CEO of CarMax, brings significant expertise in retail, e-commerce and technology development 

SAN JOSE, Calif., Sept. 19, 2024 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced the appointment of William (Bill) D. Nash to its Board of Directors, effective September 18, 2024.

"We are delighted to have Bill join our Board of Directors," said Paul Pressler, Chairman of the Board, eBay Inc. "Bill has a deep understanding of retail and e-commerce and brings extensive knowledge of building customer loyalty and trust to significantly grow businesses. His experience and expertise at CarMax will help eBay further its strategy and aid in its focus on sustainable, long-term growth."

Bill Nash is president and chief executive officer of CarMax, the largest retailer of used cars in the U.S., which includes its CarMax Auto Finance (CAF) subsidiary. He oversees all aspects of the business including strategy, finance, operations, technology, marketing, and human resources. Under his leadership, CarMax has undergone the largest transformation in its history by investing significantly in technology and digital initiatives to become an omnichannel retailer. Nash was promoted to the President and CEO role in 2016 after serving as Executive Vice President of Human Resources and Administrative Services. He was also elected to serve as a director of the CarMax board in 2016. Nash began his career at CarMax in 1997 and has held various senior roles before stepping into his current position. Nash received a Bachelor of Business Administration degree with a concentration in accounting from James Madison University.

"I am thrilled to join eBay's Board of Directors," said Bill Nash. "I believe eBay is uniquely positioned to reinvent the future of e-commerce for enthusiasts and is on a clear path to deliver increased value for shareholders. I'm eager to bring my experience of delivering exceptional, iconic experiences for customers while accelerating company growth, and I look forward to partnering with the Board to oversee and advance the efforts already underway."

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 eleven directors, ten of whom are independent.

About eBay

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 2023, eBay enabled more than $73 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 member of eBay's Board of Directors?

William (Bill) D. Nash, the current president and CEO of CarMax, has been appointed to eBay's Board of Directors, effective September 18, 2024.

What experience does Bill Nash bring to eBay's board?

Bill Nash brings extensive experience in retail, e-commerce, and technology development. He has led CarMax through a major transformation, focusing on technology and digital initiatives to become an omnichannel retailer.

How many members are on eBay's Board of Directors after Nash's appointment?

Following Bill Nash's appointment, eBay's Board of Directors will be composed of eleven members, with ten of them being independent directors.

When did Bill Nash join CarMax and what positions has he held?

Bill Nash joined CarMax in 1997 and has held various senior roles. He was promoted to President and CEO in 2016 and was also elected to serve as a director of the CarMax board in the same year.