eBay’s CEO Wenig Steps Down

eBay’s board of directors has appointed Scott Schenkel, most recently eBay’s svp/chief financial officer, as interim CEO. The appointment follows Devin Wenig stepping down as president and CEO, and a director of the company.

The eBay board will undertake a search to identify the company’s next CEO, and will consider internal and external candidates.

Thomas Tierney, chairman of the eBay Inc. board, said, “During his 12 years at eBay, Scott has demonstrated that he is a strong and dynamic leader who knows our business inside and out. He has worked closely with our teams across the company to execute our strategy. We are confident that Scott’s experience at eBay positions him well to lead the company during this time.”

Schenkel has served as svp/CFO of eBay since 2015, leading finance, analytics and information technology, as well as eBay’s classifieds business unit. Previously, he spent six years as svp/CFO of eBay Marketplace, where he was responsible for overseeing finance, analytics, strategy and innovation across the business. Mr. Schenkel joined eBay in 2007 as vp/global financial planning and analysis.

Tierney added, “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 company also announced that Andy Cring, eBay’s vp/global financial planning and analysis, has been appointed to serve as interim chief financial officer.

eBay also noted that its previously announced operating review is ongoing, and the company expects to provide an update this fall. In addition, eBay’s strategic review of its asset portfolio, including StubHub and eBay Classifieds Group, is continuing to move forward with the assistance of Goldman Sachs & Co.