EBay Faces Competitive Threat
EBay Inc. faced a double blow Thursday as it announced a key executives plans to leave and an analyst said Google Inc.s new online payment service represents a bigger threat than expected to the Internet auction companys health.
Jeff Jordan, who most recently was president of eBays PayPal payment business, led eBays North America division from 2000 to 2004 and had been presumed by some analysts as the likely successor to Chief Executive Meg Whitman. He said in an interview that he wants to spend more time with his wife and two children.
He will be replaced by Rajiv Dutta, who has been with the company since 1998, serving as chief financial officer, head of strategy and president of Skype, the Internet phone service eBay acquired last year.
The San Jose-based companys shares fell $1.51, 5.3 percent, to $26.85 on the Nasdaq Stock Market following analyst reports that voiced concern about eBays long-term position
