EBay CEO steps down citing board ructions EBay CEO Devin Wenig (pictured) has stepped down, citing differences with the company’s recently revamped board, to be replaced by CFO Scott Schenkel on an interim basis Wenig, who has been the online auction and retail site’s CEO for four years, said in a tweet: “In the past few weeks it became clear that I was not on the same page as my new board. Whenever that happens, it’s best for everyone to turn that page over.” Earlier this
ier this year, eBay made changes to its board following pressure from activist investors, the hedge funds Elliott Management Corp and Starboard Value.
EBay faces intense competition from Amazon and Walmart. Under Wenig’s leadership it has focused on its ticketing unit, StubHub, and eBay Classifieds businesses. It has also worked to make its platform simpler to use.
Tony Howarth retires from Wesfarmers
Wesfarmers has announced that Tony Howarth, its longest-serving board member, will retire from the board following the annual meeting in Perth on November 14.
Howarth joined the board in 2007 and has been chairman of the audit and risk committee as well as a member of the nomination committee.
He is a life fellow of the Financial Services Institute of Australasia and has more than 30 years’ experience in the banking and finance industry. He has held several senior management positions during his career, including managing director of Challenge Bank and CEO of Hartleys.
He is also the former chairman of West Australian Rugby Union.
Birtles joins board of charity Good360
The former CEO of Super Retail Group, Peter Birtles, is putting his retail connections and expertise to good use, joining the board of Good360. The not-for-profit works with schools and charities – such as Vinnies, The Salvation Army and Rural Aid – to distribute everyday items like clothing, toiletries, bedding, backpacks and other essentials to families in need.
Birtles will serve as a mentor for managing director Alison Covington, who launched the organisation in Australia in 2015 but who doesn’t have a retail background.
“It’s the expert retail background, the knowledge of the scale of the problem [of excess stock] and how we can assist businesses [with the problem],” Covington said about the skills Birtles brings to the table.
Australian retailers and brands including Big W, L’Oréal Australia, Lush and Woolworths have collectively donated $100 million worth of brand new surplus stock to Good360 over the past five years.
Distributing items to families in need is just one part of Good360’s mission. The organisation also positions itself as a way for retailers and brands to responsibly dispose of the excess stock they are left with when a product sells poorly, the weather is uncharacteristically hot or cold, or a logo changes.
The organisation estimates that Australian businesses are sitting on $1.92 billion worth of surplus stock each year, and has set a target to distribute $1 billion worth of brand new goods to families in need by 2025.