Change is starting at the top at eBay Inc.
Devin Wenig stepped down as president and chief executive officer Wednesday, having led the e-commerce company since it split with PayPal in 2015.
Chief financial officer Scott Schenkel will step up as interim ceo as the board searches for a permanent successor.
The switch comes at an uncertain time for eBay, which has been reviewing its operations with the aid of activists Elliott Management, Starboard Value and Goldman Sachs since March, when the board composition was tweaked. EBay reaffirmed that an update on its review — which includes a close look at StubHub and eBay Classified — would come this fall.
Thomas Tierney, chairman, described Wenig as “a tireless advocate for driving improvement in the business” and said that “eBay is stronger today than it was four years ago.”
“Notwithstanding this progress, given a number of considerations, both Devin and the board believe that a new chief executive officer is best for the company at this time,” Tierney said.
On Twitter, Wenig said: “In the past few weeks it became clear that I was not on the same page as my new board. Whenever that happens, its best for everyone to turn that page over. It has
Devin Wenig stepped down as president and chief executive officer Wednesday, having led the e-commerce company since it split with PayPal in 2015.
Chief financial officer Scott Schenkel will step up as interim ceo as the board searches for a permanent successor.
The switch comes at an uncertain time for eBay, which has been reviewing its operations with the aid of activists Elliott Management, Starboard Value and Goldman Sachs since March, when the board composition was tweaked. EBay reaffirmed that an update on its review — which includes a close look at StubHub and eBay Classified — would come this fall.
Thomas Tierney, chairman, described Wenig as “a tireless advocate for driving improvement in the business” and said that “eBay is stronger today than it was four years ago.”
“Notwithstanding this progress, given a number of considerations, both Devin and the board believe that a new chief executive officer is best for the company at this time,” Tierney said.
On Twitter, Wenig said: “In the past few weeks it became clear that I was not on the same page as my new board. Whenever that happens, its best for everyone to turn that page over. It has