eBay Hires Ex-Reuters Markets Head Devin Wenig

Devin Wenig Headshot

Just over a month after Devin Wenig was ousted as CEO of Reuters’ beleaguered Markets division, eBay (NSDQ: EBAY) has brought him as president of its global Marketplaces unit, which in addition to the flagship auction site, includes the classifieds business and StubHub.

Wenig, an 18-year Reuters (NYSE: TRI) veteran, will be reporting to President and CEO John Donahoe.

The hiring comes as eBay has so far been able to build up its main businesses amid shifting e-commerce models, particularly in the area of daily deals sites. It’s also been expanding its focus on mobile. In July, it made a big bet on the mobile payments business when eBay bought Zong for $240 million in cash.

In announcing Wenig’s hire, eBay trumpeted the ex-Reuters’ exec’s business and strategic acumen. It will be interesting to see what a long-time content exec like Wenig brings to eBay.

In recent years, Wenig was seen as instrumental in helping Reuters expand its consumer base beyond financial professionals by introducing more general business executive products through mobile products like the iPad and smartphones. Given eBay’s focus on building up its mobile focus, Wenig at least has some experience there. In essence, sources had said that he was let go, along with several others, when he refused to go along with a reorg of Reuters’ Markets division, which has suffered along with lower employment on Wall St., which has reduced to the number of customers the company has. Release

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