eBay Chief Executive Officer Meg Whitman has been with the
company for nearly 10 years. When Whitman took over the helm, the company had
30 employees -- the company now has over 15,000 employees and brought in nearly
$6 billion USD in revenue last year.
Shortly after joining eBay, Whitman commented that "No
CEO should stay more than a decade in the same job." Whitman is taking her
own advice and will retire
from her position as CEO within the coming weeks according to the Wall Street Journal.
The prime candidate for the CEO position is John Donahue,
president of eBay's marketplace business. Donahue would be tasked with
strengthening eBay's auction business which accounts for over two-thirds of the
company's revenue. Although eBay's auction business continues to grow
year-over-year, the rate of growth has slowed recently.
eBay came under fire just over a year ago when it announced
round of fee increases for regular auctions and fixed-price listings. eBay
sellers who also accepted PayPal, another eBay-owned service, faced the double
whammy of payment processing fees in addition to the increased auction fees.
Many sellers cried out for Google Checkout support on eBay,
but the company's policies at the time -- and currently -- prevented
the use of the competing payment service.
eBay also introduced
a new feedback system earlier this year aimed at providing buyers with more
information on sellers. As is the usual case when a new system is brought in to
replace a decade-old staple, reaction was mixed at first. However, most sellers
have warmed up to the idea of having their performance scored on four key
areas: Item as described, Communication, Shipping time and Shipping and
Although eBay is best known for its online auction
marketplace and PayPal, the company also owns Skype, Half.com and StubHub.com.
quote: It's Ebay's greed that is their weakness. They're so desperate to show growth to investors that instead of making the site more accessible, they increase the fees to push out the little guy and make more on the power sellers. They have no growth, the only growth they've had was in profits and that was because of their growing fee structure.
quote: Whitman is taking her own advice and will retire from her position as CEO within the coming weeks