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EBay hires ex-Thomson Reuters exec

EBay hires ex-Thomson Reuters exec

September 7th, 2011 in News

SAN JOSE, Calif. (AP) - Online auction giant eBay Inc. said Tuesday that it hired Devin Wenig, formerly CEO of Thomson Reuters Markets, as president of its global eBay Marketplaces business unit.

Wenig, 44, will report to eBay CEO John Donahoe.

Wenig led Thomson Reuters' global financial services and media businesses and also led the integration of Reuters and Thomson following the two companies' merger. He is credited with global operating and leadership experience "in rapidly changing, disruptive competitive environments," eBay said.

Wenig is to receive about $12 million worth of stock options, a temporary $10,000-a-month housing allowance and $1 million to buy a house in the San Francisco Bay area, along with relocation expenses from New York, according to a securities filing. He is also to receive a base annual salary of $750,000 and will have a target bonus of the same amount.

EBay shares rose 15 cents to $29.42 in after-hours trading Tuesday after closing down 14 cents at $29.27 in the regular session Tuesday.