SAN JOSE, Calif., April 13, 2020 /PRNewswire/ -- eBay Inc.
(NASDAQ: EBAY) today announced that the Company's Board of
Directors has appointed Jamie
Iannone as Chief Executive Officer, effective April 27, 2020. He has also been elected to
the Company's Board of Directors. Most recently Mr. Iannone was
Chief Operating Officer of Walmart eCommerce.
Mr. Iannone has over 20 years of experience leading digital
pure-play and omnichannel platforms for some of the world's premier
consumer-facing companies. Before being promoted to COO of Walmart
eCommerce, he served as CEO of SamsClub.com, the eCommerce unit for
the $57 billion Sam's Club. In this
role, he was responsible for the unit's digital transformation,
including developing and executing initiatives in membership,
marketing, technology, product and operations. Mr. Iannone
previously worked at eBay as a Vice President and other leadership
roles from 2001 to 2009.
"The Board believes Jamie is the ideal CEO to lead eBay's next
chapter of growth and success," said Thomas
Tierney, Chairman of eBay Inc.'s Board. "We have all been
impressed by his strong track record of innovation, execution,
operational excellence, and developing teams that drive results.
Jamie has consistently delivered high growth during rapid periods
of industry disruption, consumer change and technological
advancement. He is a world-class leader, and we are excited to
welcome him back to eBay."
"I am honored to rejoin eBay as its next Chief Executive
Officer," said Mr. Iannone. "In my previous experience with the
Company, I developed a deep appreciation for what makes eBay so
special. eBay's success has always been rooted in its robust C2C
platform. I believe the Company has tremendous opportunities to
capitalize on this foundation, innovate for the future and grow its
ecosystem. I look forward to working with our global teams to
enhance buyer experiences and provide more capabilities that will
help small businesses sustain and grow. I will focus on continuing
to evolve the Company's strategy while delivering on eBay's
commitment to maximize long-term shareholder value."
Mr. Tierney added, "We are deeply appreciative to Scott Schenkel for his leadership, not only over
the past six months as interim CEO, but also during his 13-year
tenure at eBay. In addition to leading bold actions in response to
the COVID-19 pandemic, with Scott as interim CEO, eBay has
re-prioritized its product roadmap, scaled growth initiatives,
significantly improved margins and positioned the Company for
enhanced shareholder returns. On behalf of the Board and the entire
eBay family, we extend our sincerest gratitude to Scott for a job
exceptionally well done."
Mr. Schenkel will continue as interim CEO until Mr. Iannone
joins the Company on April 27, 2020
and will thereafter work with Mr. Iannone to ensure a smooth
transition of leadership. Andy Cring
will continue to serve as interim CFO.
Mr. Iannone's appointment marks the end of a comprehensive
search process led by a dedicated committee of eBay's Board of
Directors and supported by outside executive search and leadership
advisory firm Spencer Stuart. The Search Committee, comprised of
Fred Anderson, Katie Mitic, Matt
Murphy, Paul Pressler and
Tom Tierney, led an extensive
evaluation of external and internal candidates for the role. The
full eBay Board unanimously supported Mr. Iannone's selection as
CEO.
About Jamie Iannone
Mr. Iannone most recently served as Chief Operating Officer of
Walmart eCommerce. His team focused on operational oversight of
eCommerce as Walmart moves to a truly omnichannel organization. He
also had responsibility for Store No. 8, Walmart's incubation
hub.
Mr. Iannone joined Sam's Club in 2014 and was CEO of
SamsClub.com and Executive Vice President of membership and
technology. In that role, Mr. Iannone grew both the SamsClub.com
business and Sam's Club's membership base, which ended FY20 with
record-high eCommerce growth and Plus renewal counts. His teams
also released industry-leading technologies including Scan &
Go, Ask Sam's, Sam's Club Now and Club Pickup.
Before joining Walmart Inc., Mr. Iannone was Executive Vice
President of Digital Products at Barnes & Noble, Inc., where he
was responsible for all NOOK devices, software, accessories, retail
integration and experiences, books and digital content, as well as
third-party partnerships. He also spent nearly eight years at eBay
as a Vice President and in other roles leading several areas of the
Company, including its global search, buyer experience and tailored
shopping experience divisions. Before that, Mr. Iannone worked at
Epinions.com and Booz Allen
Hamilton.
Mr. Iannone previously served on the Board of Directors of The
Children's Place. He earned a Bachelor of Science in operations
research, engineering and management systems from Princeton University and a Master of Business
Administration from the Stanford Graduate School of Business.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader including
the Marketplace and Classifieds platforms. Collectively, we connect
millions of buyers and sellers around the world, empowering people
and creating opportunity for all. Founded in 1995 in San Jose, California, eBay is one of the
world's largest and most vibrant marketplaces for discovering great
value and unique selection. For more information about the company
and its global portfolio of online brands, visit
www.ebayinc.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
based on the company's current expectations, forecasts and
assumptions and involve risks and uncertainties. These statements
include, but are not limited to, statements regarding the future
performance of eBay Inc. and its consolidated subsidiaries,
including full year guidance for 2019, leadership changes and the
company's operating and strategic reviews. Actual results could
differ materially from those predicted or implied, and reported
results should not be considered as an indication of future
performance. Other factors that could cause or contribute to such
differences include, but are not limited to: changes in political,
business and economic conditions, any regional or general economic
downturn or crisis and any conditions that affect ecommerce growth
or cross-border trade; the company's ability to realize expected
growth opportunities in payments intermediation and advertising;
the outcome of the operating and strategic portfolio reviews;
fluctuations in foreign currency exchange rates; the company's need
to successfully react to the increasing importance of mobile
commerce and the increasing social aspect of commerce; an
increasingly competitive environment for its business; changes to
the company's capital allocation, including the timing,
declaration, amount and payment of any future dividends or levels
of the company's share repurchases, or management of operating
cash; the company's ability to manage its indebtedness, including
managing exposure to interest rates and maintaining its credit
ratings; the company's need to manage an increasingly large
enterprise with a broad range of businesses of varying degrees of
maturity and in many different geographies; the company's need and
ability to manage regulatory, tax, data security and litigation
risks; whether the operational, marketing and strategic benefits of
the separation of the eBay and PayPal businesses can be achieved;
the company's ability to timely upgrade and develop its technology
systems, infrastructure and customer service capabilities at
reasonable cost while maintaining site stability and performance
and adding new products and features; and the company's ability to
integrate, manage and grow businesses that have been acquired or
may be acquired in the future.
The forward-looking statements in this press release do not
include the potential impact of any acquisitions or divestitures
that may be announced and/or completed after the date hereof.
More information about factors that could affect the company's
results is included under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in the company's most recent Annual Report
on Form 10-K and subsequent quarterly reports on Form 10-Q, copies
of which may be obtained by visiting the company's Investor
Relations website at https://investors.ebayinc.com or the SEC's
website at www.sec.gov. Undue reliance should not be placed on the
forward-looking statements in this press release, which are based
on information available to the company on the date hereof. The
company assumes no obligation to update such statements.
Contact:
Investor Relations Contact:
Joe Billante
ir@ebay.com
Media Relations Contact:
Trina Somera
press@ebay.com
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SOURCE eBay Inc.