EBay has hired Devin Wenig, former CEO of Thomson Reuters‘ Markets division, as president of its global eBay Marketplaces business unit. He will report to John Donahoe, president and CEO of eBay.
Wenig’s start date is yet to be finalized and it is too soon to determine his immediate goals at the company, said an eBay spokesperson who declined to provide additional comment.
Wenig will be responsible for driving the San Jose, Calif.-based company’s “vision of enabling retailers of all sizes to grow their businesses and enabling consumers to shop anytime and anywhere for whatever they want,” said Donahoe, in a statement.
The eBay Marketplaces division includes eBay, eBay Classifieds and StubHub.
Wenig joined Reuters in 1993. During his 17-year career with the company, he held several senior management positions, including COO of Reuters and CEO of Reuters’ Markets division. He left the company, which merged with Thomson in 2008, on July 21.
He will replace Lorrie Norrington, who resigned last September. Norrington had led the unit since 2008, after joining eBay three years earlier. Donahoe has led the Marketplaces division since Norrington’s departure.
The Marketplaces business’ second-quarter revenue increased 19% to $1.6 billion compared with Q2 2010. The division’s net revenue was $5.7 billion last year, or about 62% of full company revenue.
Total eBay revenue increased 25% year-over-year to $2.8 billion in the second quarter. Net income decreased 31% year-over-year to $283.4 million in the period. Sales and marketing expenses grew by 27% to $607.9 million, compared with Q2 of last year.
