Whitman Ready To Depart eBay

Rumors of CEO's retirement precede earnings announcement

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[ Business]

Meg Whitman, CEO of eBay, plans to retire from running the online marketplace after ten years at the helm.

Whitman’s rumored departure turned into official news, with the Wall Street Journal saying she would live up to a personal view on CEO longevity.

“Not long after she joined eBay, Ms. Whitman declared that no CEO should stay more than a decade in the same job because people need new challenges and organizations need fresh perspectives,” the Journal said.

If sources can be believed, Whitman’s retirement will open the corner office door for John Donahoe, president of eBay’s auction business. EBay is not commenting on the report.

The biggest change eBay could make after Whitman leaves would be to implement volume pricing as an incentive to draw more sellers to the site. High fees have driven eBay sellers to look for alternatives, as those costs plus bargain-hunting buyers drive down their profits.

eBay announces its fourth quarter earnings on Wednesday. Industry observers will be keen on seeing if Whitman does opt to move on, as questions of these retirement rumors will be brought up during the announcement.

Whitman Ready To Depart eBay

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