Business

The possible retirement of EBay's CEO
by Tatiana Hadarova

As the Associated Press news has refered the Chief Executive of Ebay Inc., one of the biggest e-commerce site Meg Whitman may retire. That might be based on He fact that the company is now facing slow growth of their stocks and small returns from its 2.6 billion USD gamble on the Internet phone service Skype. According to this news Whitman would leave her position after ten years at he helm. But Ebay spokesman Hani Durzy denied this information and called the report „rumour and speculations." The information that Whitman is planning retire is also in contrast with what some people familiar with the matter have said. According to them Whitman is working on a plan of succession. Factors that might help Whitman to decide is the Ebays slow growth and Skype's acquisition. „It's just seems like her legacy has been sealed and she has done everything she can do," said Scott Kessler, an equity manager for Standard & Poor's. And she is also paricipating in presidential election campaign for the Republican candidate Mitt Romney. Meg whitman joined the company in 1998, three years after the site was introduced and six months before it went public. Kessler also said, that even though Ebay has been in the recent years outmaneuvered by Amazon.com.Inc, Whitman has great credit for the mark she has built for the one of the biggest an most profitable e-commerce company. When she joined the company, it had only about 30 employes and annual revenue of $86 million. Now the number of employees is 15.000 and had $5.97 billion revenues last year. The Wall Street Journal said that the decision can be made within few weeks and her possible successor migh be John Donahue, who was recruited in 2005 to head Ebay's auction business unit.

related story: http://news.yahoo.com/s/ap/20080122/ap_on_hi_te/ebay_s_ceo;_ylt=Au_p8kaz.tNRrbgaYgr1KKQjtBAF

by Tatiana Hadarova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 3:52 PM