Walmart executive Jamie Iannone picked as eBay’s new CEO

Online retailer eBay has tapped a Walmart executive as its new chief executive.

Jamie Iannone, Walmart’s chief operating officer for U.S. e-commerce, will take the top job, eBay said Monday in a news release.

Iannone played a key role in Walmart’s digital strategy and was one of the retailer’s rising stars. He was credited for growing the membership and online sales of Sam’s Club, the retailer’s membership-based subsidiary. In late February, he was promoted to lead Walmart’s e-commerce business in the U.S.

Iannone worked at Walmart-owned Sam’s Club for about six years. He was previously CEO of SamsClub.com and executive vice president of membership and technology.

Thomas Tierney, chairman of eBay’s board, said in a news release that Iannone was the “ideal CEO to lead eBay’s next chapter of growth and success.”

“We have all been impressed by his strong track record of innovation, execution, operational excellence, and developing teams that drive results,” he said. “Jamie has consistently delivered high growth during rapid periods of industry disruption, consumer change and technological advancement.”

This story is developing and will be updated.