- eBay announced that the board of directors as appointed Scott Schenkel as the interim Chief Executive Officer after Devin Wenig stepped down
eBay has announced that the board of directors has appointed Scott Schenkel — who most recently a Senior Vice President and the Chief Financial Officer at the company — as interim Chief Executive Officer. This appointment follows Devin Wenig stepping down as the President, CEO, and a director of the company. The eBay Board is going to undertake a search to identify the next CEO of the company and will consider internal and external candidates.
“During his 12 years at eBay, Scott has demonstrated that he is a strong and dynamic leader who knows our business inside and out. He has worked closely with our teams across the Company to execute our strategy. We are confident that Scott’s experience at eBay positions him well to lead the Company during this time,” said Thomas Tierney, the Chairman of the eBay Inc. Board. “Devin has been a tireless advocate for driving improvement in the business, particularly in leading the Company forward after the PayPal spinoff. Indeed, eBay is stronger today than it was four years ago. Notwithstanding this progress, given a number of considerations, both Devin and the Board believe that a new CEO is best for the Company at this time.”
Schenkel has been serving as the Senior Vice President and Chief Financial Officer of eBay since 2015 and has been leading the finance, analytics, and information technology as well as eBay’s Classifieds business unit. Previously, Schenkel spent six years as the Senior Vice President and Chief Financial Officer of eBay Marketplace where he was responsible for overseeing finance, analytics, strategy and innovation across the business.
And Schenkel had joined eBay in 2007 as Vice President of Global Financial Planning and Analysis.
Before eBay, Schenkel spent nearly 17 years at General Electric in several financial roles including Chief Financial Officer of GE Healthcare Clinical Systems, Chief Financial Officer for GE Plastics Europe, and Chief Financial Officer of GE Lighting Europe. And Schenkel started his career as part of GE’s Financial Management Program with its Power Distribution division in North Carolina.
“eBay is an exciting and successful global marketplace that is powered by our amazing team, iconic brand and premier platform. In addition to our people who want to make a difference, our leadership has experience and fresh perspectives to build on our success. As the Board conducts a search, we will continue to focus on our strategic plan and product initiatives, while also ensuring a great customer experience and a smooth transition. eBay is well-positioned to deliver enhanced value for our customers and shareholders alike,” added Schenkel.
eBay also announced that Andy Cring, the VP of FP&A, has been appointed to serve as the interim Chief Financial Officer.
Cring has served as Vice President of Global Financial Planning and Analysis at eBay since joining the company in 2013. And Cring has been responsible on a global basis for financial oversight of all functions at eBay, including technology, marketing, and operations. Before eBay, Cring served as Senior Vice President of FP&A at Yahoo from 2009 to 2012. And prior to Yahoo, Cring spent 17 years at General Electric in a variety of finance roles, including Chief Financial Officer of Sensing and Inspection Technologies as well as Financial Planning and Analysis leader at both GE Lighting and GE Plastics.
Last year, eBay enabled $95 billion of gross merchandise volume. eBay has reaffirmed its full-year guidance for 2019 of organic FX-neutral revenue growth of 2% to 3% non-GAAP EPS growth of $2.70 to $2.75 per share and GAAP EPS growth of $1.97 to $2.07 per share.
The company’s previously announced operating review is ongoing and the company expects to provide an update this fall. eBay is also continuing a strategic review of its asset portfolio including StubHub and eBay Classifieds Group is also moving forward with the assistance of Goldman Sachs & Co. LLC.
