EBay's Earnings Up, CEO Out23 Jan, 2008 By: Chris Tribbey
The same day eBay reported positive earnings for the fourth quarter of 2007, the company's president and CEO announced she would step down after 10 years with the online giant.
Meg Whitman joined the company in 1998, when eBay was a U.S.-only auction site. She is credited with growing the company to its current status, with millions of users worldwide, creating $7.7 billion in revenue.
“Meg's passion for all things eBay changed the world,” said eBay founder and chairman Pierre Omidyar.
John Donahoe will take over as president and CEO on March 31.
On Jan. 23, eBay announced it posted fourth quarter revenue of $2.18 billion, a $461 million year-over-year increase.