Meg Whitman Stepping Down as Ebay Chief
Posted on January 23, 2008
Meg Whitman is stepping down as the CEO and Chairman of eBay. She certainly did a terrific job running eBay. She will step down on March 31, 2008.
Whitman joined eBay in March 1998. At the time, eBay was a U.S.-only, auction-based trading site with 500,000 registered users, just 30 employees, and $4.7 million in revenue. Today, the company has hundreds of millions of users worldwide, more than 15,000 employees and nearly $7.7 billion in revenue.
"Meg's passion for all things eBay changed the world," said Pierre Omidyar, Founder of eBay and Chairman of the Board. "With humor, smarts and unflappable determination, Meg took a small, barely known online auction site and helped it become an integral part of our lives. We're all enormously grateful that Meg dedicated herself to stewarding eBay through its 10 most formative years."eBay has also acquired PayPal, StubHub and Skype under Meg's leadership. More discussion of her exit can be found here on Techmeme.eBay's Board of Directors voted unanimously to elect John Donahoe President and CEO. Donahoe came to eBay in February 2005 from Bain & Company, where he had served as worldwide managing director since 1999. For nearly three years, Donahoe has been President of eBay Marketplaces, which accounts for more than 70 percent of the company's global revenues. In this role, Donahoe has been responsible for the growth of eBay and its other ecommerce businesses around the world, and during the time he has managed this business unit, both revenues and profits doubled.
"During the last three years, John and I have worked very closely together to arrive at this day, and we'll continue to work together through the transition," said Whitman. "I'm extremely confident in John's skills and the abilities of John's veteran management team. eBay and its millions of users are in great hands as they head into the future."
Omidyar added, "John is a great choice to lead eBay. He understands our community and is committed to continuing Meg's legacy. The Board and I look forward to supporting John as he takes eBay into the future."
In addition, eBay announced that Rajiv Dutta, currently the President of PayPal, has been named Executive Vice President of eBay Inc. and will also replace Donahoe as President of eBay Marketplaces. Dutta, who will report to Donahoe, has also been elected to the eBay Board of Directors.
