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EBay Trades Lower After Announcing CEO Is Stepping Down

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EBay Trades Lower After Announcing CEO Is Stepping Down

EBay Inc (NASDAQ: EBAY) shares are trading lower after the company said its CEO and President Devin Wenig will step down. The company has named CFO Scott Schenkel as interim CEO.

"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 Chairman Thomas Tierney.

The company reaffirmed 2019 adjusted EPS guidance of $2.70-$2.75 versus a $2.75 estimate.

EBay shares were trading down 1.4% at $38.93 on Wednesday. The stock has a 52-week high of $42 and a 52-week low of $26.01.

Related Link:

Report: eBay Sale Of StubHub Could Be Forthcoming

eBay To Conduct Strategic Reviews, Could Spin Off StubHub

Posted-In: Devin Wenig Scott SchenkelNews Guidance Management Best of Benzinga

 

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