Whitman resigns from Goldman Sachs board

Margaret Kane
Margaret Kane Former Staff writer, CNET News
Margaret is a former news editor for CNET News, based in the Boston bureau.

eBay CEO Meg Whitman has resigned from the board of directors of Goldman Sachs, the investment bank said Friday. Whitman has been on the board since 2001.

Earlier this year, congressional investigators revealed that Whitman had received shares in several public offerings managed by Goldman Sachs. That came as part an ongoing investigation into how brokerage firms handled IPOs. Whitman, who gained $1.78 million from selling IPO shares, said in an e-mail to employees that the actions were "legal" and "quite common." Goldman Sachs led eBay's IPO in 1998.