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eBay Finally Names Permanent CFO following 2019 Shakeup

eBay
eBay Finally Names Permanent CFO following 2019 Shakeup

Andy Cring has been interim Chief Financial Officer (CFO) at eBay since a reshuffling in September 2019 following Devin Wenig’s abrupt departure as CEO. Twenty months later, eBay finally named a permanent CFO.

Steve Priest will join eBay on June 21, 2021 in the role of Chief Financial Officer reporting to Jamie Iannone, who was named permanent CEO effective April 27, 2020.

eBay will pay its new CFO a base salary of $750,000, a target bonus opportunity of 100% of base salary (prorated for 2021), and eligibility for annual equity awards beginning in 2022 (which, for 2022, will have a grant date value of at least $5.5 million).

Priest will also receive another $10 million new-hire equity awards vesting at different rates, and another $4 million in equity transition payments.

Priest, who comes from JetBlue, will oversee all global aspects of eBay’s financial operations including controllership, financial planning and analysis, tax, treasury, audit, mergers and acquisitions, and investor relations

As for Cring, he will continue in his role of Interim CFO until Priest joins eBay at the end of next month, after which he will assist with the transition. Presumably he will leave the company after the transition, as Steve Schenkel had done after his time as Interim CEO was over.

You can find the news on the eBay corporate blog.

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Ina Steiner
Ina Steiner
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

4 thoughts on “eBay Finally Names Permanent CFO following 2019 Shakeup”

  1. at least he didn’t come from walmart.

    doubt if he will bring anything positive to ebay

  2. I CringeED when I heard this ! lol

    What could possibly go wrong ?

    Ex greedy airline exec -ripped off fliers now eBay exec who can rip off sellers!

  3. It took them forever to find a replacement CFO just as it took forever to find a replacement CEO. Ebay needed to find replacements that would go along with the long term plan of having glitches in the program continuously overcharging Sellers and refusing to even attempt to find and fix the problems, let alone automatically refund monies to sellers unless they found the problem and filed a complaint about it. Even then they have now started taking forever to issue the credits and instead of returning the money to the Sellers account where the money was taken from, they now are putting it as a credit to their Selling account which then takes another 30 days after the Seller finds that and requests a refund of that money. They are desperate to keep any and all cash they can get their hands on which is another reason I stopped selling on Ebay after over 20 years selling on there. I definitely will not sell on the site if I was forced into mangled Payments as I have no trust at all left in Ebays ability to even try to run an honest company anymore.

  4. Ebay sales are through the roof. These past few months have been the best ever in two decades. Ever since I was placed into managed payments sales have gone to the moon.
    My employees and I have been having trouble getting all of the orders shipped in 8 hours per day. We just added two more employees this month. If you are quitting selling on Ebay because of managed payments then you are missing out on the best business has ever been. IMO the new Ebay management team has finally got Ebay firing on all cylinders. Our gross sales are already up 50% over last year and it is only May and last year was a record year caused by the shut downs and the stimulus checks. On target to break the three million mark in sales this year with less than 3000 listings. I think you left Ebay at the wrong time.

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