Dive Brief:
- Ebay on Wednesday announced the appointment of Stefanie Jay in the newly created role of chief business and strategy officer, according to a company press release. Jay will join the company on May 10.
- Jay will lead the company's strategy, business operations, analytics and communications teams and will report directly to CEO Jamie Iannone.
- Jay joins the marketplace retailer from Walmart where she was most recently the vice president and general manager of Walmart Connect, the big box company's in-store and digital advertising business.
Dive Insight:
Ebay and other online marketplaces have performed well during the pandemic, but the question at hand is if they can sustain the gains they made over the past year as consumers' shopping habits continue to shift.
The company recently reported its revenue growth for Q1 was the highest it has been since 2005, even as it gave a lighter outlook for the quarter.
The addition of the new position of a chief business and strategy officer may be in alignment with a long view of sustained success.
"Over the last year, we have developed and executed a proven playbook for transforming eBay with a tech-led reimagination, and I know Stef will be key in sharpening and accelerating the implementation of this successful strategy across our entire marketplace," said Iannone in a statement.
Ebay has benefited from an overall increase in e-commerce shopping over the past year, but it also has become a channel for those customers who are looking to buy secondhand. "Interest in the resale market is driving momentum among buyers and sellers," Jane Hali & Associates wrote in a mid-April note about the company. "Sustainable practices have become a selling point. As consumers become more interested in [sustainability] EBAY and the resale market will benefit."
Besides Jay's most recent role at Walmart Connect, she led corporate development and strategy for Walmart e-commerce, including its investment in JD.com and partnerships with Google, Uber and Lyft. Prior to that, Jay was with Goldman Sachs for 14 years in the consumer retail and healthcare investment banking group.
