Devin Wenig joins eBay

Source: eBay

eBay Inc. (Nasdaq:EBAY) today announced that Devin Wenig is joining the company as President of its global eBay Marketplaces business unit, which includes eBay, the world's leading online marketplace; eBay classifieds sites in more than 1,000 cities worldwide; and StubHub, the world's largest online tickets marketplace. Wenig will report to eBay Inc. President and CEO John Donahoe.

Wenig, 44, most recently was Chief Executive Officer of Thomson Reuters Markets, a division of Thomson Reuters, where he led the company's global financial services and media businesses. Wenig also led the integration of Reuters and Thomson following the merger of the two companies. In a highly successful 18-year career with Reuters and Thomson Reuters, Wenig had extensive global operating and leadership experience in rapidly changing, disruptive competitive environments, giving him a deep understanding of how to develop and grow innovative global technology platforms to serve changing customer needs.

"Devin's deep global operating and leadership experience, combined with his record of delivering innovation and of understanding global technology platforms and communities, makes him uniquely qualified to lead our eBay Marketplaces business," Donahoe said. "We are focused on shaping the future of commerce with retailers and sellers of all sizes across multiple formats, including mobile, local and social commerce. Devin will be a strong leader to drive our vision of enabling retailers of all sizes to grow their businesses and enabling consumers to shop anytime, anywhere for whatever they want."

Wenig joins eBay at a time of dramatic change across global retail and in how consumers worldwide shop and pay. Online and offline are blending into a multichannel commerce environment, with technology driving innovation and influencing how retailers of all sizes compete and how consumers shop.

Against this backdrop, eBay is a leader in trends such as mobile commerce. As it announced as part of its second quarter 2011 earnings release on July 20, 2011, eBay expects to generate more than $4 billion of merchandise volume through its eBay mobile applications in 2011 - more than double the prior year. Consumers worldwide have driven more than 50 million downloads of the company's mobile applications.

eBay has dramatically improved the shopping experience on its global marketplace platform, with tailored visual browsing and shopping experiences in categories such as fashion. eBay also is driving innovation in areas such as local commerce, enabling retailers to feature their local inventory within eBay search results. Other innovations such as eBay's Instant Sale feature enables consumers to easily get money for their old electronics devices and purchase new models. Increasingly, brands and retailers are opening stores on eBay as a complementary sales channel and leveraging features such as eBay's flash sale format to deliver great deals for shoppers on a range of merchandise.

In 2010, eBay Marketplaces net revenues were more than $5.7 billion, representing about 62 percent of total eBay Inc. net revenue. More than half of eBay's revenue is generated outside of the US. Worldwide, more than $60 billion of merchandise volume is transacted annually on eBay, with the majority sold at fixed price. eBay has nearly 100 million active users.

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