5 eBay officials to depart firm

Five of eBay Inc.’s top executives will leave the company when it spins off the payment-processing division PayPal next year, and retaining them until the deal closes will cost more than $35 million, according to a recent regulatory filing.

Chief Executive Officer John Donahoe will receive a retention bonus worth about $23 million, depending on the company’s performance and stock price when the separation is complete, eBay spokeswoman Amanda Miller said. Donahoe won’t join either company created by the split — one offering payment systems and the other running online marketplaces.

"John’s transition package is closely tied to the performance of the company during the separation period and the company’s stock price at the time of separation," Miller said.

Smart Business Hawaii closes

An organization that has been an advocate for Hawaii entrepreneurs has closed after nearly 40 years in business.

Hawaii News Now reports the board of directors of Smart Business Hawaii decided to close the organization this month.

The shutdown follows the recent retirement of the organization’s leader, state Sen. Sam Slom.

The organization was formerly known as Small Business Hawaii.

Board member Panos Prevedouros says the networking and educational roles played have been taken up by other groups established after his organization was founded.

The organization had 3,500 members statewide in the 1990s, but that number dropped to fewer than 1,000 members.