Marc Andreessen Steps Down From eBay’s Board Ahead Of Split With PayPal

Investor and Silicon Valley kingpin Marc Andreessen is stepping down from eBay’s board of directors after a six year tenure.

Andreessen announced the move on Twitter — as he often does — noting that it had been “an absolute privilege” to work with eBay President and CEO John Donahoe.

2/It’s been an absolute privilege to serve with John, Pierre, and team, and I could not be more proud of what we’ve accomplished. — Marc Andreessen (@pmarca) October 20, 2014

Donahoe himself returned the compliment in an official announcement from eBay, in which he said:

“Marc has been an extraordinary board member, and we greatly appreciate the leadership, insight and expertise he has provided over the past six years. He has provided invaluable support to me, the board and the entire company.”

Andreessen’s move comes less than a month after eBay announced plans to split itself and PayPal into separate companies. The deal is expected to be completed in the first half of 2015, and is likely to enable PayPal to be more agile in the fast-moving world of payments.

The company snapped up rival Braintree earlier this year, and recently began accepting payment via bitcoin — two moves that had long been anticipated by industry watchers.

Other executives on eBay’s board include the company’s founder Pierre Omidyar, and Ford Executive Chairman William C. Ford.

Image via Joi Ito / Flickr