Indian to head eBay’s core auction biz

Agencies
Posted: Thursday, Jan 24, 2008 at 1501 hrs IST
Updated: Thursday, Jan 24, 2008 at 1517 hrs IST

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New York, January 24:: In a top-order rejig at eBay Inc, Meg Whitman has resigned as its CEO, while the world's largest internet auction firm has brought in India-origin former finance head Rajiv Dutta to the board.

In a late night announcement on Wednesday, eBay said that Whitman would step down as its President and CEO on March 31 and would be replaced by John Donahoe, currently head of its core auction business.

The company also announced that Rajiv Dutta, currently President of its PayPal unit, has been named Executive Vice President of eBay Inc and would replace Donahoe as President of auction business unit - eBay Marketplaces.

Dutta, who will report to Donahoe, has also been elected to eBay's Board of Directors.

Whitman, the outgoing CEO who had joined eBay in 1998, would continue to remain on the board.

Dutta, an Economics graduate from St Stephen's College in Delhi and MBA from Drucker School of Management in California, is a 10-year eBay veteran and has previously served as the company's Chief Financial Officer and President of Skype, eBay's communications business.

Since July 2006, Dutta has successfully led PayPal to achieve more than 65 billion dollars in payment volume and three consecutive quarters of accelerating revenue growth.

"Dutta will apply his experience, strategic abilities and leadership skills to accelerating growth in the company's core business," the company said.

The eBay Marketplaces unit, to be headed by Dutta, accounts for more than 70 per cent of the company's revenue.

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