President and CEO (Chief Exectutive Officer) of eBay Technologies.
read about her, match the following words to make verb collocations.
Follow the example.
1. hold 2. serve 3. resist 4. miss
*(to chase growth = perseguir el
Do the same
with the following collocations.
1. personal 2. striking 3. ahead 4. make
the text and complete the table with notes about Meg.
Whitman was born in 1957 in New York. She started studying
medicine, but changed to business studies after a summer job selling
advertising for a university campus publication. She graduated with an
economics degree in 1977 and got her MBA at Harvard Business School two
Whitman has held executive positions at Hasbro Inc., Florists' Transworld
Delivery, the Walt Disney Co. and Bain & Co., among others. She serves on
the boards of eBay as well as DreamWorks Animation, Procter & Gamble and
As President and CEO of the world's biggest online auction site, Whitman,
has successfully resisted competition from Amazon.com and Yahoo. Since
joining eBay in 1998, she has been quick to solve any problems, and has
reported a consistent flow of profits, making eBay the world's most
valuable Internet brand.
EBay is one of the Internet's most popular sites. It's an online auction
house that describes itself as "the world's largest personal online
On paper she may be the richest female CEO in America, thanks to her eBay
stock options (her personal holdings are valued at $1.6 billion). At
number three on Fortune's Most Powerful Women list, Whitman is running one
of the few dot-com companies which is making money.
Whitman has an understanding of real people. She's an unusual combination
of homely mother and corporate executive. She’s down-to-earth and does not
have a big ego. EBay's success with both consumers and businesses reflects
Whitman's ability to successfully communicate at all levels. At an eBay
Live trade show, she has been seen talking to customers selling CDs one
minute, and the CEO of Kodak the next. It’s difficult to imagine the CEO’s
of many multi-national companies feeing so comfortable in such different
situations. She is both corporate celebrity and the customer’s best
friend, autographing T-shirts and chatting to eBay users; "Where are you
from?... What do you sell?" she asks each customer who walks up to her.
Everybody calls her "Meg", and she is quick to congratulate people who
have made money through eBay. "eBay's success will always be based on your
success.... eBay reaffirms my faith in humanity. eBay is proof that people
are basically good." Somehow she manages to say it without sounding false
or over-sentimental. She means what she says.
Of course, it helps that Whitman is an eBay user herself, having bought
many things through her company including skiing and holiday equipment for
her family holidays in Colorado. From a leadership perspective, one of her
most striking attributes is to enable other people and other groups to get
things done. She’s one of the business world’s great motivators.
hobbies include fly fishing and skiing in the mountains, which she does
with her two sons and her husband. These days, Whitman spends much of her
time in the West, particularly at eBay's headquarters in San Jose,
EBay has never missed its business targets, and that’s not because the
targets have been too modest. In the year 2000, when revenues were $431
million, she announced that eBay would reach $3 billion in 2005.
Few investors believed her, and even her own board had doubts. Today, as
eBay passes the $3 billion mark a year ahead of schedule, her credibility
has attracted lots of powerful fans. General Electric CEO Jeff Immelt
says, "There's a direct translation between what she says and what she
does, which we really admire in people."
Just as important as her credibility is her sense of when to do nothing.
Whitman has expanded eBay by resisting the temptation to chase growth.
During her first few years at the company, she recalls, "People were
saying, 'Go into B2B, buy Ariba, make eBay like Amazon.' " She did the
opposite, focusing on the consumer market and collectibles because they're
the items that eBay's most passionate users love to sell.
Despite her skill at doing nothing when necessary, Whitman has also had
the confidence to make some bold decisions. Two years ago, despite the
objections of some of her top executives, she bought PayPal, which
operated the most popular payments system for online transactions, for
$1.5 billion and replaced PayPal's management quickly. The price was
viewed as too high at the time but, says Terry Semel, CEO of Yahoo, "PayPal
has been an enormous help to eBay. It was a great acquisition."
Inside eBay Whitman is encouraging, supportive and warm to her staff.
People aren't threatened by her. Her one dictatorial habit, say
colleagues, is telling people where to sit at meetings. "My mother has
always said that the right seating is the secret of a good dinner party,"
she says. Whitman is so consistently pleasant that a cynic can't help but
wonder if it’s all a big act. Is she for real? Her executives simply say
"Meg is Meg.”
”She is exactly who you meet. She's smart, straight, and to the point.
She's just really nice to do business with."
Whitman continues to expand the eBay empire internationally. Under her
leadership, eBay has acquired NeoCom Technology, Taiwan's leading operator
of auction-style Web sites. Ebay also invested $30 million in cash to
acquire a 33 percent interest in EachNet, an online trading community in
has grown from $5.7 million to $3.2 billion in estimated 2004 revenues. To
put that into perspective, hers is the fastest-growing company in
history—faster than Microsoft, Dell, or any other company during the first
eight years of its existence.
How much longer will she stay? "I really don't know," she says. Some
people close to her think two or three more years. Despite speculation,
she insists she is not interested in becoming CEO of Disney when Michael
Eisner retires. In fact, she doesn't want any other CEO job at any
company. She says, "I don't know what I'll do next, but it could be
philanthropy, teaching, or going to Colorado to ride horses." Meg Whitman
retiring at the age of 50 would be another distressing case of the
business world losing a powerful woman in her prime. But giving the power
away to someone else would be a typically ‘Meg’ thing to do.
auction = subasta
stock option: The right, but not the obligation, to buy
stock at a certain price within a particular period of time.
down-to-earth = sensible, practical, realistic
trade show = feria de muestras
a year ahead of schedule = un año de adelanto sobre la fecha
the information in the table.
What do the
following numbers refer to in the text?.