Briefing

EBay names Walmart e-commerce executive Jamie Iannone as new CEO

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Iannone, who was most recently COO of Walmart e-commerce, will start the top job at eBay on April 27. (The Logic)

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Talking point: Iannone’s appointment follows the September 2019 outster of then-CEO Devin Wenig, who clashed repeatedly with activist investors Elliott Management and Starboard Value. They wanted eBay to do more to catch up with Amazon in e-commerce, and the firm is increasingly doing what the activists—who have appointed six board members between them—want. EBay has already sold StubHub for US$4.05 billion and is looking at offers for its classified ads business. Jesse Cohn, an Elliot partner and eBay board member, called Iannone’s appointment a “huge positive” for the firm.