Wednesday 25 September 2019 2:37 pm

Ebay chief executive steps down

Ebay chief executive Devin Wenig has stepped down as the online retail giant presses ahead with a potential asset sale.

Chief finance officer Scott Schenkel has been appointed as interim chief executive while the board searches for Wenig’s replacement.

Ebay said it would continue a strategic review of its assets that began in March. The review, which Goldman Sachs is assisting with, could result in it offloading ticketing platform Stubhub and Ebay Classifieds Group.

“Devin has been a tireless advocate for driving improvement in the business, particularly in leading the Company forward after the PayPal spinoff,” said Thomas Tierney, chair of Ebay’s board.

“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,” he added.

Wenig was appointed Ebay chief executive in 2015, having first joined its global marketplaces unit in 2011. Schenkel has served as Ebay’s chief finance officer since 2015.

“We are confident that Scott’s experience at eBay positions him well to lead the Company during this time,” Tierney said.

Main image credit: Getty