Devin Wenig resigns as CEO of eBay

Devin Wenig resigns as CEO of eBay

The board of directors of eBay confirmed the resignation of Devin Wenig from the position of CEO of the group. According to some analysts, this initiative could support the hypotheses according to which the company is ready for a reorganization as well as for the sale of some divisions considered not particularly profitable today.

To date, the eBay board would still be looking for a replacement, which is why the position of interim CEO will be maintained by the CFO (and senior vice president) Scott Schenkel until the name is revealed. It is however probable that the need is to appoint a figure of rupture with respect to the management of Wenig.

The company would have already entrusted the investment bank Goldman Sachs with the task of reviewing the assets currently in operation, including those that could be sold in the coming months. eBay Classifieds Group, for the location of local brands globally, e StubHub, platform for the sale of tickets for sports competitions, concerts, plays and other live events.

During the last few years Ebay has invested considerable resources to renew the sales experience of its merchants, in this regard it is possible to mention the implementation of an algorithm that can automatically generate listings based on predictive analysis technologies and machine learning. Despite this, the competition of Amazon it would be getting more and more pressing.

Elliott Management, holder of an important share of the capital of eBay and activist in defense of the consumers, had recently criticized the business model of Wenig underlining the inefficiency and the tendency to face investments little profitable. Following his comment, 135 workers from the group were dismissed.

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