eBay chief takes home 55% less pay in 2009

Online marketplace eBay's chief executive John Donahoe took home total pay of $10.1 million in 2009, a 55 per cent drop compared to the compensation received in the previous year.

Donahoe had received a total compensation of $24 million in 2008, which had included higher stock and option awards, according to a regulatory filing eBay.

His 2009 pay package included a salary of $934,615, up from $879,808 in 2008 and a bonus of $522,917, a rise from $500,000 received in previous year.

Donahoe's compensation package also included stock and option awards worth $6.93 million, a performance incentive of $1.6 million and other compensation of $172,394. In 2008, the eBay chief had received stock and option awards worth a total of $22.3 million.

Donahoe had become eBay's CEO, replacing Meg Whitman who had retired, from March 31, 2008, following which his salary was increased to $900,000 per annum.

Among other executive officers, eBay's Chief Financial Officer Robert Swan received a compensation of $5.9 million and Mark T Carges its Senior Vice-President (Technology) took home $3.4 million. eBay's Marketplaces President Lorrie M Norrington received a pay package of $3.1 million, while its payment operations unit, PayPal, President was doled out 3.2 million in 2009.

eBay had reported a strong growth in profit at $1.35 billion in the fourth quarter driven by the performance of its PayPal payment operations and its core auction business.