Chief of eBay sees pay soar despite a profit fall

THE boss of eBay saw his pay soar by 22 per cent to $12.4m (£7.5m) last year after being given shares, share options and perks including a private jet.

President and chief executive John Donahoe’s pay deal came despite eBay’s profit dropping from $2.39bn to $1.8bn during the year. Filings made the US Securities and Exchange Commission reveal that he had a salary of $920,538, a bonus of $736,538 and a further performance incentive of $1.2m. But most of the value came in the stock element of his package. Donahoe, who took over at the online auctions and Paypal operator in March 2008, was awarded shares valued at $5.6m and options worth $3.7m.

Meanwhile a survey of more than 2,000 adults by eBay found most people had less money to spend and many blamed the hike in VAT.