Wed Sept 25 2019 09:52:50 |
eBay CEO Devin Wenig Is Out
By: Ina Steiner
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eBay CEO Devin Wenig is out, the company said in a surprise announcement on Wednesday. According to the Chairman of the Board Thomas Tierney, "given a number of considerations, both Devin and the Board believe that a new CEO is best for the Company at this time."
Wenig has also stepped down from the board of directors.
The board appointed eBay Chief Financial Officer Scott Schenkel interim Chief Executive Officer, and the board will undertake a search to for the next CEO, "and will consider internal and external candidates."
The press release announcing the management shakeup said this with regard to Wenig's departure:
"Mr. Tierney added, "Devin has been a tireless advocate for driving improvement in the business, particularly in leading the Company forward after the PayPal spinoff. Indeed, 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 CEO is best for the Company at this time.""
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