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CEO of eBay resigns

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Devin Wenig, CEO of eBay, made a surprise announcement to resign.

"Devin has been a tireless advocate for driving improvement in the business, particularly in leading the company forward after the PayPal spinoff," said Thomas Tierney, chairman of eBay's board of directors. "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."

Scott Schenkel, eBay's senior vice president and chief financial officer, was appointed as interim CEO.

Read more from Business Insider.


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