- eBay CEO Devin Wenig is stepping down, the company said Wednesday.
- Scott Schenkel, eBay's senior vice president and chief financial officer, will serve as interim CEO while the company searches for its next chief executive.
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eBay announced Wednesday that its CEO, Devin Wenig, was stepping down.
The company said it had appointed Scott Schenkel, eBay's senior vice president and chief financial officer, as interim CEO while it searched for the company's next chief executive.
eBay also said Wednesday that it was continuing a strategic review of its assets, including the ticket-sales website StubHub and the Classifieds Group. The company said it planned to provide an update on that process this fall.
Wenig cited conflict with eBay's board, which has been overseeing the review, as the reason for his departure.
"In the past few weeks it became clear that I was not on the same page as my new Board," Wenig tweeted on Wednesday. "Whenever that happens, its [sic] best for everyone to turn that page over."
—Devin Wenig (@devinwenig) September 25, 2019
Thomas Tierney, the chairman of eBay's board of directors, said in a statement: "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."
The KeyBanc Capital Markets analyst Edward Yruma said Wenig stepping down would most likely accelerate the process of eBay's asset review.
"We believe that this change was board driven," Yruma said in a research note on Wednesday.
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