eBay CEO Devin Weign resigns


The Chief Executive Officer (CEO) of the major e-commerce company eBay Devin Wenig announced his decision to resign from his position. According to the sources, he did so because Board Members and the CEO were not on the same page. As of now, the Chief Financial Officer (CFO) Mr. Scott Schenkel would be the interim CEO. 

Currently, the online retailer is pursuing an extensive review of its businesses across the globe. The company officials are discussing whether they can sell more assets of the company across the globe. Before eBay, Devin was CEO of Reuters. He had joined eBay in 2011 and was CEO since July 2015. Now, CFO will be working as interim CEO until the Board finds a proper replacement. 

Recently, Wenig posted on his official Twitter account that in last weeks he had realized that he was not on the same page with the new members of the eBay board. Whenever such a situation arises in someone’s professional life, it is best for them to turn that page over. He further wrote that it was an incredible privilege for him that he got to lead one of the leading online platforms for a period of eight years. He didn’t speak regarding the differences that he had with the Board. 

Thomas Tierney, who is the Board Chairman of eBay, praised Wenig by stating that he was a tireless advocate who worked hard to bring improvements within the company. He stated that eBay is stronger today as compared to four years back due to the efforts of Devin. After going through several considerations, both Devin and the eBay board decided that it is best for the company to appoint a new CEO. 

eBay came into existence in 1995 on a small scale. Later on, it evolved as one of the pioneers of the online retail platform.

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