The online e-commerce website eBay is about to put some of its holdings for auction. One of the concerning authority personnel of eBay told that the company has decided to undertake such endeavor after it has been pressurized by a group of investors. The online commerce site has planned to add two new directors in its team. One of them is Jesse Cohn who belongs to Elliot Management.
At present, Jesse Cohn has a stake of about 4% in the company and he had also started to pressurize the company to sell off its holdings. On March 1, 2019, Devin Wenig told the press that the decision which has been taken by the company is due to the after-effects of diatribes between investors and the management since the beginning of the present year. Mr. Wenig is the CEO as well as the President of eBay.
In a short interview with the press, Mr. Wenig said that the company is trying to focus on the big picture. He also said that at present the main aim of the company is to fulfill the demands of its investors so that it can maintain a good, long term relationship with them in the upcoming future. Previously, eBay had made a comment regarding restructuring the company which will help it to undertake a wide range of markets.
Speaking to the reporters, YgalArounian said that in recent years the commerce giant, eBay has lost its share to Amazon. He further stated that the most reasonable thing which eBay could do at present is by selling the StubHub and get a substantial capital to invest in its core activities. Mr. Arounian also said that eBay also has to implement some effective business planning if it wants to stay in the game of e-commerce for long.