EBay chief executive officer Devin Wenig stepped down Wednesday, citing differences with the company’s recently revamped board, which is looking to sell some of its businesses amid pressure from activist investors.
Wenig, who has been the online auction and retail site’s CEO for four years, said in a tweet: “In the past few weeks it became clear that I was not on the same page as my new Board. Whenever that happens, it’s 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.”
EBay announces that CFO Scott Schenkel will be interim CEO.
“Devin has been a tireless advocate for driving improvement in the business, particularly in leading the company forward after the PayPal spinoff,” Chairman Thomas Tierney said in a statement. “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.”
“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,” Schenkel said.
Schenkel joined eBay in 2007 as vice president of global financial planning and analysis. He then spent six years as chief financial officer of eBay Marketplace before becoming the CFO of eBay.
