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eBay CEO Meg Whitman Stepping Down

January 28, 2008 10:45 AM
by findingDulcinea Staff

After a decade in the top spot, Meg Whitman announces her resignation as eBay CEO. Company growth had slowed, but Whitman said in 2001 that she had never intended to stay so long.

30-Second Summary

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Meg Whitman, No. 3 in Fortune magazine’s “Top 50 Most Powerful Women” in 2007, went public with her resignation as eBay CEO on Jan. 23.

“It hasn't been easy for this web 1.0 superstar to figure out how to succeed in a 2.0 world, but the $6 billion company remains the world’s No. 1 e-commerce brand,” says Fortune.

Assuming leadership of the company in 1998, Whitman has seen the e-retailer expand from a $4 million a year operation to a massive entity that has taken over such well-known Web-based brands as PayPal and Skype.

Yet flagging growth made some analysts pessimistic about eBay’s prospects. Profits grew by 53 percent over the fourth quarter 2007, yet expansion was sluggish for much of the rest of the year.

Whitman told Fast Company magazine in April 2001 that she was never sure she could be eBay CEO "for longer than five years." She continued, "It really is a 7-by-24 job—you’re constantly on call."

The Los Angeles Times reported on Jan. 25 that Whitman is considering a run for California governor on the Republican ticket.

Headline Link: ‘eBay Sees Chief Executive Resign’

Reactions: ‘Face Time with Meg Whitman’

Key Players: Meg Whitman

Opinion & Analysis: Whitman’s resignation positive move

Related Links: ‘eBay's Retiring Chief May Run for California Governor’

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