EBay CEO steps down as company seeks to sell assets
by The Associated Press
The online retailer is attempting to sell some of its major assets, including the possible sale or spin-off of its ticket-reselling site StubHub
NEW YORK – The CEO of eBay is stepping down as online retailer attempts to sell or spin off some of its major assets.
CFO Scott Schenkel will become the interim chief executive as the company seeks a permanent replacement for CEO Devin Wenig.
In March, eBay said it was considering the sale or spin-off its ticket-reselling site StubHub and its classified ads business after a push from activist investor Elliott Management. That review is ongoing and the company said Wednesday that it will provide an update on those efforts this fall.
EBay’s marketplace is its biggest money maker, with StubHub and the classifieds business each bringing in less than 10% of its total revenue last year. Devin joined eBay in 2011 and became CEO in July 2015, after overseeing eBay’s marketplaces business.
