According to web rumours, EBay payments unit PayPal plans to trade on the Nasdaq Stock Market when the two companies split later this year.
PayPal said it would use the ticket symbol “PYPL,” which is the same symbol that the
PayPal to list on Nasdaq
company had before being acquired by eBay in 2002 for about $1.5 billion – according to the WSJ.
EBay and PayPal plan to split into separate publicly traded companies sometime in the third quarter.
Separately, eBay said it had determined which directors would be assigned to which company following the split. The San Jose, Calif., company didn’t detail how it chose to divvy up the directors.
On the eBay side will be Fred Anderson, Edward Barnholt, Kathleen Mitic, Anthony Bates, Bonnie Hammer, Perry Traquina, current finance chief Bob Swan and incoming chief executive Devin Wenig,with Thomas Tierney serving as chairman.
PayPal will be helmed by Scott Cook, Jonathan Christodoro, David Dorman, David Moffett, Frank Yeary and incoming CEO Dan Schulman, with current eBay CEO John Donahoe as chairman. American Red Cross CEO Gail McGovern is the lone woman on the company’s board.
EBay founder Pierre Omidyar will serve on both boards.
Last month, the companies disclosed an operating agreement that will keep them closely aligned for at least five years, including a requirement that 80% of gross merchandise sales on eBay.com still flow through PayPal.
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