Workday CFO Zane Rowe Joins eBay Board Of Directors
eBay has announced the appointment of current Workday CFO, Zane Rowe, to the Board of Directors in a move eBay says will bring "significant expertise in finance, strategy and technology development" to the company.
eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced the appointment of Zane Rowe to its Board of Directors, effective February 16, 2024. Zane has also been appointed to eBay’s Audit Committee.
“We are excited to welcome Zane to our Board of Directors,” said Paul Pressler, Chairman of the Board, eBay Inc. “Zane will bring extensive experience in business strategy, corporate finance and technology development having worked with some of today’s leading global technology organizations. His expertise will help eBay further its strategy and aid in its focus on delivering long-term shareholder value.”
Zane Rowe currently serves as the Chief Financial Officer of Workday, Inc., an international enterprise software company, where he is responsible for accounting, business finance, investor relations, tax and treasury, in addition to advising on business strategy and product development as well as serving as an executive sponsor for the company’s ESG efforts.
Prior to Workday, Zane was Executive Vice President and Chief Financial Officer of VMware, Inc., a global technology company, where he oversaw the company’s finance and accounting functions and corporate development, as well as the Business Operations function, which included the CIO and CSO organizations. Earlier in his career, Zane held roles at EMC Corporation, Apple, United Continental Holdings and Continental Airlines. Zane holds a B.S. from Embry-Riddle Aeronautical University and an MBA from San Diego State University.
The new blood with a focus on strategy and finance comes at a time when eBay CEO Jamie Iannone says he is sticking with his "high value, enthusiast buyer, vertical focus" strategy in spite of a mass layoff of ~1,000 employees last month and growing questions and concerns about costs, risks, due diligence and disclosure in eBay's growing labor-centric in-house authentication operations.
Liz Morton
eBay is also currently facing ongoing labor woes at subsidiary TCGPlayer, a historic $59 Million settlement with the DEA, and an EPA lawsuit regarding dangerous and illegal items sold on the platform, as well as a deferred prosecution agreement with the Department of Justice after being found criminally liable in connection to the 2019 cyberstalking of journalists Ina and David Steiner of EcommerceBytes.
The deal hit the company with the maximum fine of $3 Million dollars and will require enhanced compliance monitoring for 3 years, including a specific focus on Mergers and Acquisitions due diligence, disclosure and risk management.
Liz Morton
The broad scope of the compliance monitoring suggests the Department of Justice and other Federal regulatory bodies may be concerned about a wide variety of business practices.
Given these ongoing regulatory and compliance issues, it's noteworthy that Rowe will be assigned to the Audit Committee.
eBay finally named a new Chief Compliance Officer in September 2023, likely as part of negotiations regarding that deferred prosecution agreement, and we wouldn't be surprised if this Board appointment wasn't also heavily influenced by the increasing government scrutiny eBay currently finds itself under.
Speaking of corporate strategy - has anyone heard from eBay Chief Business & Strategy Officer Stefanie Jay lately? Asking for 130+ million eBay-using friends.
Concerned
