eBay (EBAY) Eachnet announced that CEO Martin Shixiong Wu, who has worked for just a year, will resign from his position and instead work as a consultant for the company.
Liao Guangyu, general manager of Paypal China, will take over Wu's duties after his resignation, which according to eBay Eachnet's quotes in local media is conducive for eBay Eachnet to unite with Paypal so as to better integrate their resources.
Liao has 23 years of experience as a financial professional. He has taken various management positions at Standard Chartered Bank and Citibank. He joined Paypal in January 2005.
Last year Wu left his position as Chief Marketing Officer of Microsoft's Greater China Region to work at eBay Eachnet. The position had been vacant since Shao Yibo, the former CEO of EBay EachNet, resigned in 2004.
After merging with two Internet media firms, Yahoo (YHOO) China and 1pai.com, Ablibaba.com is turning its attention to EBay EachNet, viewing the company as a strong competitor in the Chinese consumer auction market.