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eBay Hires a New CEO

By Demitri Kalogeropoulos - Apr 13, 2020 at 10:43AM

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Jamie Iannone takes over in just a few weeks.

eBay (EBAY -3.52%) is under new leadership. The digital marketplace giant announced on Monday that it hired a new chief executive, Jamie Iannone, who will officially step into the CEO role on April 27. eBay has been under interim leadership for the past six months.

Iannone's last position was Chief Operating Officer at the e-commerce unit of Walmart, a key rival of eBay's. Before that, he led the digital division at Walmart's Sam's Club warehouse. Iannone also held various leadership roles at eBay from 2001 to 2009.

A woman holds a credit card and a mobile phone.

Image source: Getty Images.

"I am honored to rejoin eBay as its next CEO," Iannone said in a press release. "I will focus on continuing to evolve the company's strategy while delivering on eBay's commitment to maximize long-term shareholder value."

The appointment comes at a volatile time for the company, which has sold off portions of itself this year following a period of sluggish sales growth. More recently, activist investors have been pressuring eBay to change its strategic direction and consider returning more capital to shareholders.

Investors might see more volatility ahead on that score, too, as eBay's management team is facing an investor challenge that could spark turnover in the board of directors during the company's annual meeting in June.

Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool recommends eBay and recommends the following options: long January 2021 $18 calls on eBay and short January 2021 $37 calls on eBay. The Motley Fool has a disclosure policy.

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