eBay Chief Executive John Donahoe’s total pay has significantly decreased, as the e-commerce giant decided to cut his compensation by more than half.
Last year, Donahoe received $13.8 million in total compensation, including salary and bonus, which is lower from the $29.7 million he received a year ago.
“The committee concluded that while Mr Donahoe continued to perform well against many of the goals, the company’s financial performance for 2013 and positioning relative to its competitors at the start of 2014 did not fully meet expectations,” eBay said in a statement ahead of its investor’s meeting.
Future of company
Donahoe has been under fire from activist investor Carl Icahn, who wants eBay to sell its PayPal electronic-payments unit.
Amid an ongoing battle with Icahn over the future of the company, eBay fell short of its 2013 financial goals and targets relative to its peers.
While his basic wage increased by 2%, Donahoe’s annual cash incentive has declined by 43% from a year ago.