EBay’s New Chief Will Use Lower Fees to Cure Slowing Growth

ebay
EBay Inc., the world’s largest Internet auctioneer, will cut fees on diamond bracelets and Batman movie posters as incoming Chief Executive Officer John Donahoe tries to boost slowing sales growth.

The online retailer, which forecast 2008 revenue that trailed analysts’ estimates, said yesterday that Donahoe will take over for Meg Whitman as CEO on March 31.

Donahoe inherits a company facing what may be its smallest revenue gains since going public a decade ago. Sales in the U.S. are growing at half the pace overseas, and cash-strapped U.S. consumers are limiting spending in the face of the worst housing market in 26 years. Investors have slashed EBay’s stock market value in half since the end of 2004.

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