eBay Head To Retire, Company Tries To Recoup Business

SAN FRANCISCO — The chief executive officer of eBay Inc., Meg Whitman, announced yesterday her retirement effective March 31, making way for insider John Donahoe to assume control of the e-commerce giant. The change in leadership, reported earlier yesterday by CNBC, comes as the e-commerce company tries to reinvigorate its core auction business amid increasing competition from online retailer Amazon Inc. and growing concern about a broader slowdown in consumer spending. After the close yesterday the company reported fourth-quarter earnings of 39 cents a share, from 25 cents a year ago.