EBay appoints former Walmart govt Iannone as CEO

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FILE PHOTO: The eBay brand is pictured on a display on this photograph illustration in New York, U.S., July 23, 2019. REUTERS/Brendan McDermid/Illustration

(Reuters) – EBay Inc on Monday appointed former Walmart Inc govt Jamie Iannone as its chief govt officer, efficient April 27, sending shares larger.

The appointment comes almost a month after activist investor Starboard Worth mentioned it wished eBay to nominate an outsider as everlasting chief govt, after being lead by an interim CEO for months.

Scott Schenkel, the corporate’s chief monetary officer, has been serving as interim CEO since Devin Wenig stepped down in September, citing variations with the corporate’s board.

Iannone, who most not too long ago served as chief working officer of Walmart eCommerce, beforehand held management roles at EBay from 2001 to 2009.

Shares of the e-commerce firm have been 3.3% larger at $34.95 in morning commerce.

Reporting by Amal S in Bengaluru; Enhancing by Aditya Soni

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