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EBay Inc. named Jamie Iannone as its new Chief Executive Officer on Monday. The appointment had been made a month after Starboard Value, owner of more than 1% of eBay’s stock, disclosed plans of designating four directors on eBay’s board of 14 members. Starboard wanted the company to appoint an outsider as its permanent chief executive.
“The Board believes Jamie is the ideal CEO to lead eBay’s next chapter of growth and success,” said Thomas Tierney, chairman of eBay’s board. “We have all been impressed by his strong track record of innovation, execution, operational excellence and developing teams that drive results. He is a world-class leader, and we are excited to welcome him back to eBay.”
Scott Schenkel, the e-commerce company’s Chief Financial Officer, has been serving as interim CEO since September last year. Former CEO Devin Wenig stepped down after disagreements on how to renew the struggling company.
Iannone, who most recently served as Chief Operating Officer of Walmart eCommerce, previously held management roles at EBay from 2001 to 2009 and will begin his term as chief executive officer on April 27.
EBay shares were 1.19% higher at $34.23 in morning trade following this development.
On Monday, the Australian Competition and Consumer Commission (ACCC) filed a case against Google (GOOGL) in federal court after allegations that the multinational technology company misled its consumers about the expanded use of their personal ...
Flipkart Ltd announced on Thursday that it acquired a 100% stake in Walmart India Pvt Ltd that operates local cash-and-carry business. The electronics retail company had also launched its new digital marketplace called Flipkart Wholesale. “With ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
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