The management change comes as the online marketplace conducts a strategic review of its business.
EBay CEO Devin Wenig, who took the company's helm in 2015 when it split from PayPal, announced his resignation on Wednesday.EBay, the online marketplace, said on Wednesday that Devin Wenig is resigning as CEO, president and director amidst an ongoing review of its business.
The company’s board of directors has appointed Scott Schenkel, previously the chief financial officer, as the new interim CEO. EBay said it is conducting an ongoing search to fill the position on a permanent basis and is considering both internal and external candidates. The management shuffle comes at a time when the San Jose-based company is conducting a strategic review of its assets, which includes StubHub and its classified division. It announced the review earlier this year, as part of an agreement with affiliates of activist investors Elliott Management and Starboard Value. It also added three new board members.
Wenig, who has served as CEO since 2015, when eBay and PayPal were split into two separate, publicly traded companies, indicated that his departure was prompted by a disagreement with the board. “In the past few weeks it became clear that I was not on the same page as my new board,” heIn a statement, chairman Thomas Tierney acknowledged that the company is in a stronger position now than it was four years ago, but that it was time for a change.
EBay said on Wednesday that the strategic review is ongoing and reiterated that it expects to provide an update this fall. The company also announced that Andy Cring, an executive in the finance department, will step up as interim chief financial officer.
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