eBay have announced that Devin Wenig is stepping down as President and CEO, and as a director of the eBay.
This comes at the time eBay are undergoing an operating review at the instigation of activist investors alongside a strategic review of eBay’s asset portfolio, which will potentially culminate in the sale of either or StubHub and the eBay Classifieds Group. An update is expected from the board this Autumn.
“In the past few weeks it became clear that I was not on the same page as my new Board. Whenever that happens, its best for everyone to turn that page over. It has been an incredible privilege to lead one of the worlds great businesses for the past 8 years.
We grew, and transformed, and added to one of the most special communities in the world. To the sellers, the consumers and the employees, you have made a lifelong impression on me that I won’t soon forget. @ebay is an example of why we shouldn’t give up on big tech companies.
It stands for economic democracy, and has a culture and community that are examples of how technology can enable, empower, and bring us together. I will be forever grateful for having been given the honor to lead this special place. and I will always, always, be in @ebay’s corner.”
– Devin Wenig
Devin Wenig took over as CEO when investors forced the spin off of PayPal and John Donahoe jumped ship. Since then Devin oversaw the introduction of eBay Catalogue with mandatory GTINs which has since been scaled back in favour of increased reliance on eBay Item Specifics. He was also in control as eBay Managed Payments began to be rolled out, which is expected to turn into a billion dollar revenue stream and jumped on eBay Promoted Listings eyeing them up as another billion dollar revenue stream.
“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.”
– Thomas Tierney, Chairman of the Board, eBay
The eBay Board will undertake a search to identify the Company’s next CEO, and will consider internal and external candidates.
eBay’s Board of Directors has appointed Scott Schenkel, most recently eBay’s Senior Vice President, Chief Financial Officer, as interim Chief Executive Officer. Andy Cring, eBay’s Vice President, Global Financial Planning and Analysis, has been appointed to serve as interim Chief Financial Officer.
“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.”
– Scott Schenkel, interim Chief Executive Officer, eBay
“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.”
– Thomas Tierney, Chairman of the Board, eBay
32 Responses
I for one would love to see Rob Hattrell in the position. He understands eBay well. Is a thoroughly nice chap when we have met and eBay Uk is performing better than most country sites.
I think Elliott management have a lot to do in this. eBay need to get back to be a marketplace where good sellers get to the top, not ‘del boys’ of this world, with hundreds of duplicates, multiple accounts, item location misrepresentation sellers. Actually maybe I should apply…….
Finally the ship sinks. Probably the longest sinking of a ship ever recorded in history.
Guy was a tool. Changes were terrible. Current state of affairs on the marketplace is at it’s worst since I can remember, and we’ve been selling there for a loooong time.
Onwards and bloody upwards. TFFT.
Wenig has been awful for sellers.
Clueless about the right direction for Ebay, whilst Amazon has stormed ahead.
Ebay sellers now pay more and earn less.
Thanks a million
Good riddance……
What a legacy…… higher fees….. lower sales and less site traffic. Sellers measured on more metrics than even most eBay support staff understand and an undue culture of seller versus buyer. Huge amounts of VAT avoidance and a rudderless ship.
The list goes on……
In all that time he HAS had one photo taken .
Goodbye am sure he has been given a nice big golden handshake his lot always are.
All I know in the time this guy was in charge eBay has gone from being the main revenue stream for us to like now 5th it is a nothing site.
It is full of fake goods, product misrepresentation and frankly a rip of to sell on these days, stealth fees will solve all is their line.
Amazon have moved on leaps and bounds and am sure world domination is on the cards.
Anyway am sure some other corporate robot is waiting in the wings. It is a tough business not like 10 years ago where they had it all just about.
As sellers we do have choice where to sell and where the good deals are (and genuine ones are) customers and their wallets will follow.
Another useless suit bites the dust. Roll in the next one, you won’t notice the difference. Reminds me of the old Russian Politburo. Ebay is dead, long live Amazon.
Just fixing the glitches is an impossible task. Ebay has more glitches than Mr & Mrs Glitch on a glitchy day.
Just fixing the glitches is an impossible task. Ebay has more glitches than Mr & Mrs Glitch on a glitchy day.
Ebay is in terminal decline, if it was a horse they’d shoot it.
He will walk away and sit at home worriying about all the ebay sellers he left behind and how they will financially cope no he has gone.
Oh sorry i am getting confused .
he will sit at home and wonder what hedge fund to put his massive millions of exiting handshake funds into. and buy a whole range of new products for his famil
OFF AMAZON
It was such a shame he was not the captain of the Titanic as the slow sinking of eBay would have meant every person would have had time to finish their meals and have a dance in the dance hall before leaving the sinking ship as he definitely knows how to draw out the time to die as he proved on eBay.
Be careful what you wish for….
The key words appear in Chris’s first paragraph….’Activist investors’…
To me that translates as
‘There must be more money we can squeeze out of this system. Fob them off with more techno stuff and lets get those average fees up beyond the 25%’
Kerching!!!!
Personally, I thank David Wenig.
I spend a lot less time on Ebay since sales have plummetted. He gave me more time to concentrate on other Platforms and Website, which are far less hassle, and more profitable.
As for the constant fee increases. I always pass them on to to the Customer to maintain the same margins. I refuse to be a busy Ebay Monkey.
All the best Wenig and thanks again.
I wonder if Devlin was personally responsible for introducing the service metrics and unfair, ridiculous penalties associated with them.
I wonder if that was one of the reasons for “not being on the same page” as the board. The service metrics is the singularly most damaging initiative on the platform since ebay launched. Maybe the board have realised this?
Three GOOD sellers I have been working with have quit this month over these ridiculous metrics. When the seller phones ebay they are given an explanation of how they work. we are not complaining about HOW they work we are complaining that they DONT work. we are not stupid – we know how differentials work but applied over such a short time scale and being at the mercy of buyers who are misusing the returns its a ridiculous way of assessing sellers.
Not sure if Devlin was instrumental in this. IF he was I am glad to see him go but for this reason only. If he was responsible – maybe this ridiculous system will be looked at and amended or abolished now that he is gone.
Message for ebay – this system is amplifying the animosity between buyers and sellers. It is a cancer in the ebay system that is eroding the platform. It
is inaccurate and unfair and should be re-examined. Maybe Devlin leaving will be a catalyst for some action?
@Alan P
I hear you Alan, and such a sharp eye opening post from a pro eBay seller as yourself is completely damming of eBay at the moment. However I doubt there will be a turn around on the service metrics currently employed as eBay earn money out of the returns system.
Since sellers pay for everything on Ebay, the next CEO needs to understand that if you HELP sellers to sell more, Ebay benefits, too.
In fact, everyone would benefit.
Instead, Wenig’s era has been characterised by increasing Ebay’s share of the profits, whilst doing nothing to help sellers.
The big initiatives from Ebay have been about promoting items and making more for Ebay.
Despite David Bracklin and others posting here about the benefits of promotion, we certainly haven’t seen it and cannot find any other sellers who think it helps, either.
Even it did help, the logic is that eventually sellers would keep having to hike their promotion rate to get the same sales boost. So we will all be back to square one, just being a lot more to sell.
Again, the only real winner here is Ebay.
Sadly, it looks like Ebay won’t look after sellers and mistakenly thinks boosting shareholders’ profits is the answer.
The site needs to be simplified, metrics made fairer or scrapped and fees need to be lowered.
How can it be fair to have a 4% late delivery metric when the biggest carrier Royal Mail will only deliver 90% on time, even in a good year?
At some point, I can see the auction business being spun off as well, as the shop sales are moribund and Amazon Prime has set the benchmark for next day delivery.
@Alan Paterson
I haven’t agreed with you often on these boards, but I am genuinely concerned that someone who has been positive about Ebay now sounds like they have had enough.
For what it’s worth, I’m sure you run a good business and give great customer service, which comes across from what you usually say.
The problem is that Ebay take no account of good sellers who fall foul of the different methods of assessment. I was downgraded a few years ago for six months, because one customer mistakenly hit the wrong button for a large number of items, I felt humiliated and nearly walked away from Ebay then.
Customers want a meaningful at a glance way of assessing a seller and, for me, feedback did that job and all the subsequent add-ons have not helped.
Sellers simply want fairness.
I’m winding down to retirement now, after 16 years of selling on Ebay, and I’m going back out part time onto to the trade fair circuit. Getting back to meeting real people again and enjoying the experience. So I’m scaling back my Ebay activities now and will not miss the hassles.
All the very best to, you, Alan. It used to annoy me, but I admit you are right about the doughnut and the hole, after all.
I wish someone like Rob Hattrell could read this thread, but then again perhaps Rob already knows about all of the problems and unfairness sellers are suffering on eBay. I genuinely worry for the platform, years upon years of crazy decisions and tinkering with seller metrics are coming home to roost.
@Alan P
I truly feel sorry for what is happening- sadly it’s just what was predicted by many of us at the start of the new metrics onslaught. And yes, it is an onslaught. I know you voiced concerns about it at the time. Do you have your own website Alan? Many people are returning to managing their own destiny, not being at the mercy of some anonymous stranger at the other end of the keyboard. I suggest you find the culprit and take legal action for losses incurred- and perhaps paste eBay legal team into the loop. There may yet be something that can be done, but I worry you will slip down the rankings and have your listings hidden if the problem persists. Less sales, less good feedback, it’s like a downward death spiral. I sincerely hope you get it satisfactorily sorted. Keep the faith, I know we haven’t seen eye to eye on many issues but I know your a decent person at heart
@Alan P do you want to help to shape eBay? I think I can help, cryptic I know but totally on the level
There is no changing eBay, it’s had it’s day anyway. Time to move on to other pastures, find new challenges and platforms. Once bitten twice shy is my motto.
@Alan P- hope your feeling a bit better buddy. Genuinely I mean it.