Chief of eBay Is Expected to Retire
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An era at eBay is about to end.  Meg Whitman, chief executive of eBay for the past 10 years, is retiring.
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eBay exceeded Wall Street&#39;s earnings and revenue expectations for its fourth quarter and,&#160;as expected, announced that Meg Whitman will step down as president and CEO at the end of March, ending a 10-year tenure at the helm of the e-commerce giant.For the quarter ended Dec. 31, 2007, eBay had revenue of $2.18 billion, up $461 million from the fourth quarter of 2006 and above the $2.14 billion consensus estimate from analysts polled by Thomson Financial.Revenue grew across the board, but PayPal, StubHub, Skype, and advertising performed particularly well as eBay enjoyed strong sales during the 2007 holiday season, the company said Wednesday.New income was $531 million, or $0.39 per share, up from $346 million, or $0.25 per share, in 2006&#39;s fourth quarter. On a pro forma basis, which includes one-time items, net income was $611 million or $0.45 per share, topping the consensus expectation by $0.04.Whitman will hand over her CEO and president titles on March 31, but she will remain on the company&#39;s board of directors. She will be succeeded by John Donahoe.Whitman joined eBay in March 1998, when the company operated only in the U.S. and had 30 employees and $4.7 million in annual revenue. It now operates worldwide with more than 15,000 employees and almost $7.7 billion in revenue.Donahoe has been with eBay since February 2005, coming from Bain &amp; Company, where he was worldwide managing director since 1999. He is president of eBay Marketplaces, which generates more than 70 percent of the company&#8217;s global revenue.Rajiv Dutta, PayPal&#39;s president, has been named eBay executive vice president and will also replace Donahoe as president of eBay Marketplaces. Scott Thompson, PayPal&#8217;s CTO, will take over as PayPal president.Meanwhile, Bill Cobb, president of eBay North America, will step down and retire from the company at the end of the year. Lorrie Norrington, currently president of eBay International, will become president of eBay Marketplaces Operations and assume Cobb&#39;s responsibilities, eBay said.
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Meg Whitman confirmed yesterday she will soon step down as chief executive of eBay, the online auction company that went from wobbly start-up to multibillion-dollar household name in her 10-year tenure.
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Michael D. Eisner, the chief executive who helped turn the Walt Disney Co. into the world&#39;s second-largest media conglomerate but has come under fire recently for its financial slump, announced plans yesterday to retire in two years.
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EBay Inc  announced on  Wednesday the planned departure of long-serving Chief Executive  Meg Whitman as it warned that revenue for the first quarter and  2008 would fall below Wall Street expectations, despite strong  2007 year-end results.
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ComcastÂs two longtime chief financial officers will retire next year and will be succeeded by an executive from a private equity firm.
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Jeff Raikes, the president of Microsoft's Business Division, plans to retire in September, the company said on Thursday.
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Meg Whitman will soon step down as chief executive of eBay Inc., the online auction company that went from wobbly startup to multibillion-dollar household name in her 10-year tenure
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EBay Inc. said on Thursday  the head of its PayPal unit will leave the Web auctioneer in a  surprise shake-up that closely follows Google Inc.&#039;s   unveiling of a rival payment service.
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Michael Eisner announced plans yesterday to step down as chief executive of Walt Disney in 2006, ending a tenure of more than 20 years in which he has left an indelible mark on one of the best-known brands in the world.
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EBay announced that its Q4 earnings and revenues exceeded Wall Street expectations, confirmed that CEO Meg Whitman plans to retire.
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WHITMAN'S DEPARTURE: After a decade as CEO of eBay Inc., Meg Whitman, 51, is stepping down. She'll be replaced by John Donahoe, 47. Whitman came to the online auctioneer after Old Economy experience at Walt Disney Co., Hasbro Inc., Procter & Gamble Co. and Bain & Co., providing steady supervision to what still was a shaky startup.
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Beth Axelrod, chief talent officer at WPP and a member of its board, quit last week and is taking the top HR post at San Jose, Calif.-based eBay, a WPP rep confirmed.
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Google Inc said on Tuesday finance chief George Reyes plans to retire, ending a bumpy five-year ride for an executive charged with trying to manage ferocious growth while upholding a policy of refusing to give financial forecasts.
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Linda Ahlers, president of Marshall Field&#39;s, will retire effective Dec. 31, the store chain&#39;s owner May Department Stores Co.
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Computer and printer maker Hewlett-Packard Co.  said on Monday that Chief Financial Officer Bob Wayman will retire as CFO at the end of the month, ending a 37-year career with the company.
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Meg Whitman will soon step down as chief executive of eBay Inc., the online auction company that went from wobbly startup to multibillion-dollar household name in her 10-year tenure.