Tuesday, January 22, 2008

Meg Whitman to Retire

The Wall Street Journal has announced that EBay CEO Meg Whitman is finally going to step down after 10 years with the company.

In recent years EBay and Whitman have come under fire for rising costs, security issues and fraud prevention as well as the acquisition Skype which led to a $1.4 billion write-down of its investment. Over the past several years sites like Firemeg.com Power Sellers Unite and We hate Ebay have become more and more prevalent.

Under her leadership, eBay has turned into one of the most-visited sites on the Internet. But the company's growth has weakened in recent years cutting cut its stock price by half from a peak of just over $56 in late 2004 to just about $28 today.

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