Chapter 2537 Director Selection

I really invited Boss Zhou out, and he also gave an exciting declaration. This is so inspiring.

Someone asked him if he could let the news out that PayPal would not resign if its market value was less than $300 billion? Zhou Buqi responded affirmatively.

This way, everyone will feel more at ease.

The blood boiled.

In the next election of directors, Zhou Buqi did his part and took the right position.

Pierre Omidyar, the founder of eBay, also took the initiative to make concessions and gave up the focus of this selection meeting.

Then it's easy.

Zhou Buqi recommended a total of 4 directors.

They are Jack Ma, chairman and CEO of Alibaba, Jason Kilar, director and CEO of MSI Global, Scott Thompson, former meritorious CEO of PayPal and current CEO of Yahoo, and former Microsoft executive and father of Windows. Steven Sinofsky.

Without exception, they are all our own people.

This will be the largest faction on PayPal's board of directors.

Counting Zhou Buqi himself, there are 5 in total.

PayPal's board of directors has a total of 11 people, and Zhou Buqi occupies 5 of them... This is somewhat outrageous.

However, no one raised any objection.

Boss Zhou has this qualification.

He has accepted to serve as the chairman of PayPal, which was independently listed after the spin-off. This is the biggest negotiation condition. Who else can invite more?

The second largest faction belongs to Carl Icahn.

However, Carl Icahn did not directly serve as a director of PayPal. He was too old and did not have the energy to participate in some business work.

His assistant, Jonathan Cristolo, CEO of Icahn, will serve as director.

In addition, Carl Icahn also recommended his friend on Wall Street, the famous capitalist and former Freddie Mac CEO David Moffett, to join PayPal's board of directors.

eBay has two recommended places.

One is Pierre Omidyar, the founder of eBay.

The other recommended his friend David Dorman, an expert in the telecommunications industry and former president of AT\u0026T.

The remaining two directorships are reserved for PayPal's management team.

One is the current CEO David Marcus, and the other is the current CFO Patrick Dupuis.

In the process, two minor controversies arose.

One is David Moffitt, a candidate recommended by Carl Icahn.

Zhou Buqi didn't know this person at all before.

I just heard from Carl that he was a famous Wall Street financier with outstanding abilities.

This is enough.

PayPal is a financial product, and it needs such a senior traditional financier to be in charge.

However, several people have taken issue with this.

That’s right on David Moffett’s resume.

He was previously the CEO of Freddie Mac!

The U.S. subprime mortgage crisis in 2008 was caused by the two major real estate giants in the United States, Freddie Mac and Fannie Mae. They conducted too many financial operations, used houses as financial tools, and engaged in too many capital operations with Wall Street... …Then the financial collapse occurred and the subprime mortgage crisis occurred.

After Zhou Buqi heard this, he was quite shocked.

Depend on!

He turned out to be such a sinner who had caused such a big disaster!

This Carl Icahn is indeed an anomaly.

What kind of cunning friends has he made?

Carl Icahn plausibly said, "David's resume should not be a shortcoming, but an advantage. No one is a saint, and who has not made mistakes? A very important point for everyone's achievements is to learn from failures. Lesson. David Moffett was not the person who caused the tragedy of the subprime mortgage crisis. He only served as CEO of Freddie Mac for more than half a year. He was just a scapegoat."

Zhou Buqi breathed a sigh of relief and felt much more at ease now, "That's so unfortunate."

Carl Icahn said: "It is unfortunate, but it is also another kind of luck. During his tenure as CEO of Freddie Mac, he deeply felt the boundaries of the operation of financial products and the terror after breaking through the boundaries. PayPal is an Internet While working hard to develop financial products, we also need to be alert to the development of some new financial products. I believe that his experience and experience can provide the best suggestions to the board of directors."

That makes sense.

As an ally, Zhou Buqi must support him and said: "Well, there is an old saying in our country that failure is the mother of success. When doing Internet financial innovation, you really need to be cautious."

The matter is settled.

After all, he is the chairman.

Moreover, Ziweixing International will be the largest shareholder after the spin-off of PayPal. He should have the greatest say and preside over and reorganize PayPal's board of directors.

The second minor disagreement was brought up by Zhou Buqi, "Who is the current CEO? David Marcus? I don't know this person very well."

The people over at eBay explained this.

Last year, PayPal CEO Scott Thompson jumped ship and joined Yahoo.

eBay then appointed PayPal Vice President David Marcus as PayPal's new CEO. Under his leadership, PayPal has developed very well in the past year, with online payment transactions exceeding US$14 billion. He has also developed a new business integrated with offline POS machines, which is also doing very well.

Zhou Buqi was not very satisfied, "Can he support an independently operated listed company with a market value of more than 30 billion US dollars? I looked at his resume, and he doesn't seem to have much experience."

Carl Icahn said: "I agree. This guy was originally an entrepreneur. He developed a product that was acquired by PayPal, and then he joined PayPal in 2009. A few years later, Scott jumped ship and joined Yahoo. He was promoted to become the CEO of PayPal. His rapid promotion was entirely because he was always executing eBay's will and executing the strategy formulated by eBay around the e-commerce industry."

As soon as these words came out, eBay was not very satisfied.

Carl Icahn didn't care, and said calmly: "If PayPal wants to be spun off, it must have sufficient independence, take its own strategic development as its main purpose, and formulate an independent development strategy. Marcus is very good, but He is just a mercenary from eBay, and he cannot lead a brand new company with a market value of more than 30 billion US dollars."

"Zhou, what do you think?" Pierre, the founder and big boss of eBay, disliked this Wall Street wolf very much, so he looked at Zhou Buqi.

Zhou Buqi said: "I'm not sure I can work happily with Mr. Marcus."

Pierre took a deep breath and said, "Are you going to appoint a new CEO? PayPal is about to go public. I'm afraid something will happen."

Carl Icahn said rudely: "Nothing has changed!"

Zhou Buqi smiled and said: "I have agreed to serve as chairman of the board of directors. Even if the CEO is changed, I believe it will not cause much shock in the capital market. Even if there is a shock, it will be a new person with a new atmosphere, and it will be a good Signal."

Pierre was very worried, "Marcus' work... is actually very good. I think you should communicate with him more times."

Zhou Buqi smiled and said: "Then prepare on both sides. On the one hand, we will look for a new and more suitable CEO. If there is no better candidate, how about letting Mr. Marcus stay on?"

What can be done?

I can’t refuse this!