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US: eBay CEO steps down

By  |  September 26, 2019

Bay Chief Executive Devin Wenig has left the online marketplace citing conflicts with the company’s new board, which is overseeing a strategic review of the business.

The San Jose, Calif., company has been evaluating its business since March after activist investors Elliott Management Corp. and Starboard Value LP had criticized the company’s performance and called for breaking it up.

The company, which has been searching for growth in light of steep online retail competition, said it plans to share the results from that review this fall.

Mr. Wenig, who is also stepping down as a board director, served as CEO for more than four years. He joined the firm in 2011 as president over its marketplace, which generates the bulk of eBay’s revenue.

Full Content: Wall Street Journal

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