eBay Inc. has appointed Scott Schenkel, most recently the company’s senior vice president and chief financial officer, as interim Chief Executive Officer. The company announced through a statement that this is appointment follows Devin Wenig stepping down as president and CEO, and a director of the company. The company also said that Andy Cring, eBay’s vice president, global financial planning and analysis, has been appointed to serve as interim Chief Financial Officer. The company reaffirmed its full year guidance of organic FX-neutral revenue growth of 2 percent to 3 percent, non-GAAP EPS of 2.70 dollars to 2.75 dollars per share and GAAP EPS of 1.97dollars to 2.07 dollars per share.
Commenting on the development, Thomas Tierney, Chairman of the eBay Inc. board, said: “During his 12 years at eBay, Scott has demonstrated that he is a strong and dynamic leader who knows our business inside and out. He has worked closely with our teams across the company to execute our strategy. We are confident that Scott’s experience at eBay positions him well to lead the Company during this time.”
Schenkel, eBay said, has served as senior vice president and CFO since 2015, leading finance, analytics and information technology, as well as eBay’s Classifieds business unit. Previously, he spent six years as senior vice president and chief financial officer of eBay Marketplace, where he was responsible for overseeing finance, analytics, strategy and innovation across the business. Schenkel joined eBay in 2007 as vice president of global financial planning and analysis.
“eBay is an exciting and successful global marketplace that is powered by our amazing team, iconic brand and premier platform. As the board conducts a search, we will continue to focus on our strategic plan and product initiatives, while also ensuring a great customer experience and a smooth transition,” added Schenkel.
Prior to eBay, the company added, Schenkel spent nearly 17 years at General Electric in a variety of finance roles, including chief financial officer of GE Healthcare Clinical Systems, chief financial officer for GE Plastics Europe and chief financial officer of GE Lighting Europe. He began his career as part of GE’s financial management program with its power distribution division in North Carolina. Schenkel currently serves on the board of NetApp as Chair of its audit committee.
Cring, the company further said, has served as vice president of global financial planning and analysis at eBay since joining the company in 2013. Prior to eBay, he served as senior vice president of FP&A at Yahoo from 2009 to 2012. Before that, Cring spent 17 years at General Electric in a variety of finance roles, including chief financial officer of sensing and inspection technologies as well as financial planning and analysis leader at both GE Lighting and GE Plastics. He began his career as part of GE’s financial management program with its lighting division in Cleveland, Ohio.
Picture:Scott Schenkel via eBay press room