Whitman to step down as eBay ceo

SAN JOSE, Calif. Meg Whitman is stepping down as president and ceo of eBay.

eBay today confirmed reports that Whitman was planning to leave her post as head of the company. Whitman will resign from her role as president and ceo on March 31. She will remain on the company's board of directors.

Whitman joined eBay in March 1998 and helped lead the company toward its growth from 500,000 registered users, just 30 employees, and $4.7 million in revenue to more than 15,000 employees and nearly $7.7 billion in revenue. Whitman led eBay to become one of the fastest-growing companies in history.

John Donahoe will succeed Whitman as president and ceo. Donahoe came to eBay in February 2005 from Bain & Company, where he had served as worldwide managing director since 1999. For nearly three years, Donahoe has been president of eBay Marketplaces, which accounts for more than 70% of the company’s global revenues.

“During the last three years, John and I have worked very closely together to arrive at this day, and we’ll continue to work together through the transition,” said Whitman. “I’m extremely confident in John’s skills and the abilities of John’s veteran management team. eBay and its millions of users are in great hands as they head into the future.”