Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Sun Apr 8 2018 08:57:55

eBay CEO Devin Wenig Earns 143 Times His Employees

By: Ina Steiner

Sponsored Link

eBay CEO Devin Wenig makes 143 times the average salary of employees, according to company filings. eBay disclosed the information last week as required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Here's exactly what eBay reported with regard to the eBay CEO Pay Ratio:

- The median of the annual total compensation of all of our employees, other than Mr. Wenig, was $122,891.

- Mr. Wenig’s annual total compensation, as reported in the 2017 Summary Compensation Table, was $17,590,833.

- Based on this information, the ratio of the annual total compensation of Mr. Wenig to the median of the annual total compensation of all employees is estimated to be 143 to 1.

The discrepancy between CEO and employee compensation is coming to light as public companies report the CEO Pay Ratio for the first time this year. A recent Wall Street Journal article found one of the biggest contrasts so far at Marathon Petroleum Corp. "The company's median worker made $21,034 last year. The oil refiner paid CEO Gary Heminger 935 times as much, or $19.7 million."

We've got more on eBay executive compensation in today's Newsflash.

Comments (55) | Leave Comment | Permalink
Readers Comments

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: RKTOYS

Mon Apr 9 18:03:57 2018

My noise what? :P

Annie, it stands to reason that if anyone can be a CEO, anyone can be eBay's CEO, but to be eBay's CEO, you'd have to be Devin Wenig, and to do that, you'd have to either become a clone or possess his body from the astral plane.  I mean, forget physical laws of time and space, if only we believe hard enough, that's all it takes.  Sounds reasonable, afterall, a mouse in a movie once told me that a magic feather can grant elephants the ability to fly.

Thank God local conventions have been picking up the last several months.  There's something to be said for a direct relationship between effort and results.  Helps when the vampire squid doesn't have its tentacles in everybody's business.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: RKTOYS

Mon Apr 9 18:58:10 2018

"Instead of complaining about what happened in Benghazi, work harder to become Secretary of State" said no CEO apologist ever.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: ebayout This user has validated their user name.

Mon Apr 9 20:00:55 2018

If Wenig took a 6 month sabbatical, would anybody notice?
Would ebay's revenue go south?
Right...

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: toolguy

Tue Apr 10 12:08:28 2018

$17 million?

He's underpaid!

Bob Iger pulled in over 2x that amount ($45 million)

Bob makes over 1000 times what his average employee makes!

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: pace306 This user has validated their user name.

Tue Apr 10 13:48:48 2018

"If Wenig took a 6 month sabbatical, would anybody notice?"

Actually - no - a cardboard cut out could do a better job!

Anyone can copy Amazon (which is all hes doing), anyone can just blame sellers for all the companies ills (which is what hes doing).

If I were the board - Id demand a refund - since he does nothing all day ... besides lie to people.

MY issue is - that eBay and Wenig is basically "Robin Hood". He steals from small sellers to enrich himself - which is why I FULLY encourage
off eBay sales" (but thats just me).

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: Ming the Merciless

Tue Apr 10 16:37:58 2018

The ebafia house plants who post here with never before seen screen names for the purpose of defending the indefensible, listen up.

I doubt any entrepreneur resents the HONEST acquisition of wealth. What I and I suspect many others strenuously object to is acquiring wealth through patently dishonest means such as lying to and stealing from customers, Wall Street, the government, stockholders, and the media.

Over the years, ebafia has become institutionally incapable of telling the truth. The Ho refined spin to a dodgy fine art and Wenig has cunningly elevated spin into what I believe is now massive criminal fraud.

The house plants pejoratively denounce those of us who resist and will continue to resist as "complainers" and "whiners." Yet they fail to explain why we shouldn't resist lies, theft, and fraud because to do so is to condone white collar crime. Do these plants approve of white collar crime? Are they participating in it?

I for one welcome house plant comments.

They reveal their character, ethics, and motivations for all to see.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: mindelec This user has validated their user name.

Tue Apr 10 21:03:23 2018

"If Wenig took a 6 month sabbatical, would anybody notice?"

We'd probably notice our sales increase.

If I made that much money in a year, i'd quit and happily live my life.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: The End

Tue Apr 10 22:24:36 2018

To: Marie,
What makes you think there are more like him to come ?

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: Marie

Wed Apr 11 02:47:19 2018

@the end
You stated: "Thank heavens he the last of this breed."  I simply asked what makes you say that?  Maybe there are and maybe there aren't, I was just curious as to why you think your statement might be correct.  You may see or know something that I may not of thought of.  There was nothing more to it, I was just curious.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Grady This user has validated their user name.

Wed Apr 11 22:32:01 2018

I work in Oil/Natural gas and those are two completely different industries. Our numbers would not look well, either as we have people working in the middle east or Uzbekistan making under $3 a day pushing wheelbarrows, and there are people making millions plus options. It makes no sense to compare the two.  

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Grady This user has validated their user name.

Wed Apr 11 22:34:21 2018

@ Ming.

I would  find myself hard pressed to state it any better than you have.
Well done !!

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: fAlken This user has validated their user name.
Web Site

Sun Jul 8 21:26:42 2018

Who cares?  This is common knowledge for all companies.  When I worked for JC Penney's I'm sure the CEO made a shit ton more than me.  Same with the Franchise owner of Taco Bell, the same for American Express, UPS, and all the rest.  I think he's running the orginazation right into the ground, but I hate reading all these "It's not fair, there's a wage difference" articles.  They imply that the CEOs should divy up their salary amongst their workers in the name of fairness.  Or perhaps it also suggest someone wants to say "You make 143 times as much as the median average paid to employees, you should only be able to make a maximum of x times as much" which is bullshit IMHO.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: fAlken This user has validated their user name.
Web Site

Mon Sep 10 14:53:54 2018

I don't care that he makes 23 times more than his average employee, he's the head of the company and this is the norm.  What I care about is that he's run the organization straight into the ground and fucked it up for a lot of sellers that actually used the platform.   The result should be his former employees making 100% more than he does from the company "ebay"

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Dburn This user has validated their user name.

Wed Oct 10 18:27:59 2018

If the measure of a CEO's worth is the value brought to shareholders, then Wenig is badly failing:

In three years he has spent well over 10 Billion in stock buy backs. In the last two years the balance sheet's tangible assets has disintegrated by 75-80% and all the while the share price has risen less than $3.00 from 2016 prices. Anyone who bought since January 2017 is underwater.  

In the same time period Amazon has bought no stock back and the stock is up well over 100% as it tallies mid double digit sales increases year over year. All eCommerce sales is up 15.7% in the last year . When one takes out the sales increase that eBay purchased when they bought a Japanese company, sales are essentially flat to negative.

Meanwhile his salary is way above that of his peer group on average whose companies are performing far better as they utilize corporate assets to invest in their companies to organically increase sales and profits, taking full advantage of the movement of retail and business sales to the online world.

Wenig? His big idea is to have a shopping cart with new products & brand names where people can find products that they may want to buy. The problem is , Wenig has no earthly idea how to convert the site to a shopping cart department store so he can rid eBay of all the features that made it distinct and ultimately be less - much less - a desirable destination than Amazon.

He still believes that the path to shareholder riches is the zero sum game of eBay wins and sellers lose. He hasn't figured out that when sellers are making more money with increasing sales and profits, eBay does too. No he doesn't care about sellers nor should he. He should care about how sellers are performing . After all if the bulk of the sellers can't make money on the eBay platform they will go elsewhere as they are doing now.

What happens to shareholder return on investment when eBay is  selling from a empty wagon?  By all measures from the prospective of a shareholder, Wenig has done nothing except set eBay for failure as corporate debt towers above tangible assets disabling eBay's ability to properly invest in bringing the main corporate asset, the eBay site into the 21st century,  much less buying stock back.

All debt incurred was for the sole purpose of buying stock back. He blew the balance sheet up for a short cut that just didn't work out. He should be fired with all due speed along with all those in the C-Suite. Someone with online retail experience , a  strong technical background and the ability to lead is sorely needed before time runs out.


Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Ebay Little Shop of Horrors This user has validated their user name.

Tue Feb 5 11:53:03 2019

Its the start of the Chinese New Year. The year of the Pig, (profit and prosperity).

They're just taking the families home for the holidays. I've heard the festivities are amazing.

Click to view more comments
1 2 3 


Login is required to post comments.
To sign in to leave a comment using your AB Verify User Name, fill in the form below. If you have not yet signed up for AB Verify, or if you'd like more information, go to the Registration Page
.

Login for AB Verify
Be sure and use your email address and password to log in.

 
Email:
Password:
 
 Forgot Your Password?
 Even though you are signed in with the AuctionBytes Blog, you will have to sign in to the EcommerceBytes blog. But you can sign in with your existing AB Verify info.