eBay CEO, Meg Whitman Retiring Soon

Posted Jan 22, 2008

The CEO of eBay Inc. (NASADAQ:EBAY) is getting ready for retirement.  Whitman started her role as CEO in March 1998 and may step down within a few weeks.  John Donahoe, President of eBay’s Auction Business division will be taking the CEO role after Whitman steps down officially.

Whitman is stepping down at a time where eBay is experiencing a slow sales growth.  Because of this, the company may change around by charing higher fees for listing.  eBay may also simplify its web site.

Whitman held the CEO role through some of eBay’s most prominent events from going IPO in September 1998, to delivering 40 consecutive quarters of revenue growth, to overseeing 248 million registered accounts and 15,000 employees, while managing the revenue growth of $86 million in 1998 up to $5.97 billion last year.  Whitman also oversaw major eBay acquisitions such as Skype and PayPal.

John Donahoe is a former Managing Director of Consulting at Bain & Co.  Donahoe and Whitman worked together at Bain. 

“Meg Whitman was my ‘first boss’ at Bain and I am delighted to be working with her once again. I look forward to getting to know eBay’s community, people and business,” wrote Donahoe to some of his colleagues at Bain when leaving the consulting company. 

Pierre Omidyar started eBay in 1995 as an experiment.  The rest of the board’s profile can be found at:  http://pages.ebay.com/aboutebay/thecompany/executiveteam.html.

[Information Source: Wall Street Journal – EBay Chief Whitman, Web Pioneer, Plans to Retire]

[Image credit: Wikipedia]