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EBay CEO Resigns, Tweets “Not on Same Page” as Board

[Editor’s Note: This version corrects a misstatement about the length of Devin Wenig’s tenure as CEO of eBay.]

Ebay (NASDAQ:EBAY) announced today that it is seeking a new CEO following the resignation of Devin Wenig.

EBay CEO Resigns, Tweets "Not on Same Page" as Board

Source: BigTunaOnline / Shutterstock.com

Wenig served as the CEO of eBay for 4 years before announcing his resignation today. This has him leaving behind that role, as well as his position on the Board of Directors.

Temporarily filling in for Wenig is Senior Vice President and Chief Financial Officer Scott Schenkel. Andy Cring, Vice President of Global Financial Planning and Analysis, will be serving as interim CFO in Schenkel’s place.

Following this eBay CEO resigns news, the company says it will be searching for a permanent replacement for Wenig. It will be looking over both internal and external candidates while it conducts this search.

So why exactly did Devin Wenig step down as the CEO of eBay? He reveals his reason in a series of Tweets.

“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 been an incredible privilege to lead one of the worlds great businesses for the past 8 years.

We grew, and transformed, and added to one of the most special communities in the world. To the sellers, the consumers and the employees, you have made a lifelong impression on me that i wont soon forget. @ebay is an example of why we shouldn’t give up on big tech companies.”

EBAY stock was down 1.2% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/09/ebay-ceo-resigns-tweets-reason-for-leaving/.

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