Ebay appoints Walmart executive Jamie Iannone as new CEO

Ebay has appointed Walmart executive Jamie Iannone as its new chief executive as it continues to undergo significant changes.

The former Walmart chief operations officer Iannone will take over from interim chief executive Scott Schenkel on April 17, following the shock departure of David Wenig in September.

Iannone previously served as Ebay’s vice president before moving to Walmart and held various senior positions at the online marketplace from 2001 to 2009.

This marks the latest development in a period of significant change for the company, which has been pressured by activist investors Elliott Management and Starboard Value to review its business.

Last month it was reported that Starboard were pressuring Ebay to appoint an outsider as its new chief executive as a comprehensive search dragged on.

It also strong-armed Ebay to install four Starboard directors to its board arguing that it had been too slow to make changes to its chief executive and its classified ads business.

READ MORE: Ebay being strong-armed into installing 4 members to its board by activist investors

In March Ebay conceded to pressure from the pair and launched an in-depth strategic review of its business, pushing it to offload its ticket sale business StubHub and its classified-ads business and focus on its core marketplace offering.

“The Board believes Jamie is the ideal CEO to lead Ebay’s next chapter of growth and success,” Ebay’s chairman Thomas Tierney said.

“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.”

Iannone added: “I am honored to rejoin eBay as its next Chief Executive Officer.

“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.”

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