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“eBay’s Auctioneer-in-Chief” Meg Whitman “eBay’s Auctioneer-in-Chief”

“You are constantly taking in new information, constantly changing the prism though which you view your business. CEOs today have to be receivers rather than transmitters. It’s a discovery process, not a dictatorial process.”

Objectives: Discuss the following about Meg Whitman: - Background Information - Education - Career Highlights - Leadership skills/examples - Life after eBay

a little background info… Childhood/Education 1977-1979 Harvard University MBA Met husband (neurosurgeon) 1973-1977 Princeton University BA Economics Started Pre-med Born 1956 Cold Harbor, NY Posh, Long Island community

a little background info… Career Travels 1981-1989 Bain & Company Business Consultant Married/Started Family 1979-1980 Proctor and Gamble Brand Assistant  Manager 1997 Hasbro General Manager (Playskool) 1997-2008 eBay President and CEO 1992-1995 Stride-Rite Shoes Division President (Keds) 1995-1997 FTD Florists President and CEO 1989-1992 Disney Sr. VP of Marketing

“I get it. She’s successful. But what makes her a leader?” “Truly a visionary, but more importantly she is an exceptional manager. Vision is one thing, there is a lot of that in the Silicon Valley. Execution is another. She is remarkable at actually getting things done.” Tim Bajarin Pres. Creative Strategies Most other Dot-Coms acted too fast and some fizzled out quickly! eBay acted slowly, watched for trends and made smart choices Slow and steady wins the race!

Smart choices? Like what? Hiring a seasoned staff of executives and managers and NOT continuing the “Den of Geeks” formerly assembled Taking time to understand where they were at before deciding where they were going - what needs fixing? - how and where can they expand? - “If it moves, measure it” (metrics) Smart use of Board: - think tank - come up with key questions - Sr. staff incl. Smart choices? Like what? Subtly steer and influence rather than grip and control recognized the company was nothing without its users - build on trust; feedback system - meg@ebay.com - “Voice of the Customer” Program - 200 million customers control 15,000 employees Listening to employees and being a very hands-on CEO - ask questions before demanding answers - be available to all - earn trust though transparency

the view from the top… So… where’s the view?! Abstract modern art Lakefront office Custom made, Swedish office furniture CEO Peter Brabeck And of course, Mr. Potatohead and friends Pictures of family and friends; awards steel and plastic cubicle; standard issue to all eBay employees including CEO! So… where’s the view?!

The Day eBay died (briefly) Thursday June 10, 1999 7pm The Day eBay died (briefly) What happened? - Growing use caused the site to crash for 22 hours and remain unstable for weeks after; stock plunged - Angry sellers and buyers demanded change in eBay Fixed? - Entered the trenches; Thursday to Monday shift; cot village Whitman became a tech-savvy CEO by attending all tech dept. meetings and working late completing hands-on maintenance of computers and servers; used influence to get her tech people in touch w/ the designers of equipment and software - Investment of $200 million in upgrades - Hired VP and CIO of Gateway, Maynard Webb to head tech dept. - By the year 2000 crash time averaged a few seconds a month

Life After the ‘Bay In March 2008 Whitman stepped down as CEO of eBay to pursue other personal and professional challenges. She remains on the board. "Meg Whitman was a phenomenal success running eBay for a decade. She has overseen an 88-times increase in revenue and a more than 1300 percent return in stock since the IPO.” New CEO John Donahoe (head of eBay marketplace) - recuited by Whitman in 2005 as possible replacement “Listen to her employees, associates, and competitors, and it quickly becomes blatantly obvious. Education, experience, worth ethic, focus, integrity, unlimited passion, creativity, keen judgment, listening skills, the ability to earn respect, a pioneer mindset, a respect and belief in customer feedback and the expertise to create, encourage and support community. The list goes on, but I’m sure you see why she continues to excel in everything she undertakes.” Harry K. Jones

Taking her Leadership to the people… 2006 endorsed Gov. Mitt Romney then Sen. John McCain; worked on both campaigns - Name dropped as possible Treasury Secretary if McCain was elected currently undertaking a bid for the 2010 Governor race in California (Republican) - Supports abortion rights, same-sex civil unions, and adoption rights for same-sex couples (but not marriage), education reform, fiscal responsibility, and environmental protection

Awards / Recognition / Perks 2002 Business Week Top 25 Managers Fortune - 50 Most Powerful Women in Business Vanity Fair – 50 Most Powerful Leaders of the Information Age Net worth of approx. $1.3 Billion attained through the growth/sale of eBay stock Gave $30 million to Princeton University to build the Whitman College

References "Company Overview," eBay web site, April 23, 2009, http://pages.ebay.com/community/aboutebay/overview/management.html. Fox, Loren, "Meg Whitman," Salon.com, November 27, 2001, http://dir.salon.com/people/bc/2001/11/27/whitman/index.html (April 23, 2009). Greene, Meg, “Meg Whitman 1956-,” referenceforbusiness.com, 2005, http://www.referenceforbusiness.com/biography/S-Z/Whitman-Meg-1956.html. Meg Whitman for Governor. April 21, 2009. http://www.megwhitman.com. US News and World Report. Meyers, William. 10/31/2005. http://www.usnews.com/usnews/news/articles/051031/31whitman.htm.