Giant online auction site eBay has recruited Apple chief financial officer Fred Anderson to its board with immediate effect.

eBay president and CEO Meg Whitman said: "Fred is an outstanding addition to eBay's board. He brings a wealth of talent and experience as a corporate executive and director to the eBay board. He will be a solid addition to an already stellar board."

At Apple, Anderson oversees the controller, treasury, investor relations, tax, information systems, internal audit, facilities, corporate development and human resources functions. He reports to the CEO and serves on the company’s executive committee.

Apple recognises Anderson for making a major contribution to turning Apple around over the last three years, including: "Solving a liquidity crisis through a major convertible bond offering and significant asset management improvements; executing a massive restructuring that enabled the company to return to sustainable profitability, and working with the CEO and other members of the Executive Team to regain growth of the company."

Along with his duties at Apple, Anderson also serves on the board of 3Com, and is a member of the US Financial Accounting Standards Advisory Board.