CEO eBAY DEVIN WENIG IS STEPPING DOWN AS COMPANY
eBay CEO Devin Wenig is stepping down as the company continues review of potential sale of assets
EBay announced on Wednesday that Devin Wenig, the president and CEO, is stepping down as the company moves forward with potential sale of assets.
“Devin has been a tireless advocate for driving improvement in the business, particularly in leading the Company forward after the PayPal spinoff,” said Thomas Tierney, Chairman of the eBay Board. “Notwithstanding this progress, given a number of considerations, both Devin and the Board believe that a new CEO is best for the Company at this time.”
Scott Schenkel, eBay’s Senior Vice President and Chief Financial Officer since 2015, has been appointed as the interim CEO.
In response to the interim appointment, Schenkel said “As the Board conducts a search, we will continue to focus on our strategic plan and product initiatives, while also ensuring a great customer experience and a smooth transition. eBay is well positioned to deliver enhanced value for our customers and shareholders alike.”
Schenkel joined eBay in 2007 as Vice President of Global Financial Planning and Analysis. He then spent six years as the Chief Financial Officer of eBay Marketplace before becoming the CFO of eBay.
The e-commerce giant also noted in its press release that “its previously announced operating review is ongoing and the Company expects to provide an update this fall.”
After eBay announced a strategic portfolio review on March 1, the company was reported to be in the early process of purchasing StubHub, a ticket exchange company, in July.
EBay stated that its strategic review of its asset portfolio including StubHub and eBay Classifieds Group is continuing to move forward with the assistance of Goldman Sachs.
EBay announced on Wednesday that Devin Wenig, the president and CEO, is stepping down as the company moves forward with potential sale of assets.
“Devin has been a tireless advocate for driving improvement in the business, particularly in leading the Company forward after the PayPal spinoff,” said Thomas Tierney, Chairman of the eBay Board. “Notwithstanding this progress, given a number of considerations, both Devin and the Board believe that a new CEO is best for the Company at this time.”
Scott Schenkel, eBay’s Senior Vice President and Chief Financial Officer since 2015, has been appointed as the interim CEO.
In response to the interim appointment, Schenkel said “As the Board conducts a search, we will continue to focus on our strategic plan and product initiatives, while also ensuring a great customer experience and a smooth transition. eBay is well positioned to deliver enhanced value for our customers and shareholders alike.”
Schenkel joined eBay in 2007 as Vice President of Global Financial Planning and Analysis. He then spent six years as the Chief Financial Officer of eBay Marketplace before becoming the CFO of eBay.
The e-commerce giant also noted in its press release that “its previously announced operating review is ongoing and the Company expects to provide an update this fall.”
After eBay announced a strategic portfolio review on March 1, the company was reported to be in the early process of purchasing StubHub, a ticket exchange company, in July.
EBay stated that its strategic review of its asset portfolio including StubHub and eBay Classifieds Group is continuing to move forward with the assistance of Goldman Sachs.
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