Meg Whitman, CEO of eBay, Inc. (NASDAQ symbol EBAY) and member of SacWomen's Power Women 50 Index, is retiring on March 31. And what has Whitman achieved since becoming eBay's CEO in February of 1998? Simply, she made her shareholders very wealthy.

She led the company to a successful IPO in September 1998. Since the IPO, the stock has appreciated an amazing 43% per year. A $10,000 investment at the IPO price of $.75 (split adjusted) has grown to $357,737 (Friday's closing price of $26.83). Over the same timeframe, a $10,000 investment in the S&P 500 Index would have grown to $12,761.

Meg Whitman, the Power Women 50 Index will miss you. Sorry John Donahoe, eBay's incoming CEO, but you will not be a part of the Index. Susan Ivey, CEO and Chairman of Reynolds American Inc. (NYSE symbol RAI) will replace Whitman in the Index on April 1.

Pierre Cutler
The Sacramento Executive