eBay has a new CEO, former eBay executive Jamie Iannone, who is currently Chief Operating Officer of Walmart eCommerce.
After Devin Wenig abruptly left eBay in September, the board of directors had named Chief Financial Officer Scott Schenkel to fill the role of chief executive on an interim basis.
eBay's board was pressured to name an external candidate by activist investor Starboard Value LP, which informed eBay last month that it felt the board was moving too slowly to fill the role of CEO.
As we wrote last month
, Schenkel did not appear to have the confidence of Starboard. It urged eBay to focus on external candidates who would "bring a fresh perspective and energy to the Company after its prolonged underperformance."
In today's announcement, Chairman of the eBay board Thomas Tierney wrote:
"The Board believes Jamie is the ideal CEO to lead eBay's next chapter of growth and success. We have all been impressed by his strong track record of innovation, execution, operational excellence, and developing teams that drive results. Jamie has consistently delivered high growth during rapid periods of industry disruption, consumer change and technological advancement. He is a world-class leader, and we are excited to welcome him back to eBay."
Iannone had worked at eBay from 2001 through 2009, when he left to run digital products at bookseller chain Barnes & Noble.
As his bio on the Walmart site states, he had run various divisions during his tenure at eBay including global search, buyer experience and tailored shopping experience and had previously worked at Epinions.com, Microsoft, and Booz Allen Hamilton.
Activist investor Starboard had also called last month for eBay to name four executives to its board of directors, including two former eBay executives, Stephanie Tilenius and Shannon (Stubo) Brayton.
Both Iannone and Tilenius were at eBay when John Donahoe took over as CEO from Meg Whitman and led the company into new directions that antagonized many longtime sellers on the marketplace. This June 2008 AuctionBytes blog post
may be interesting to those looking for insight into the backgrounds of those executives and the the concept of the "Amazonification" of eBay.
Iannone's start date as eBay CEO is April 27, 2020. Scott Schenkel will continue as interim CEO until that date and "will thereafter work with Mr. Iannone to ensure a smooth transition of leadership," eBay stated. Andy Cring will continue to serve as interim CFO. Tierney noted eBay's deep appreciation to Schenkel in the announcement.
We're interested to hear what sellers think of eBay's choice of new CEO. Will he be focused on the "Amazonification" of eBay? How does the news bode for sellers of unique inventory?