Online trading giant eBay has announced that one of its key executives plans to leave the company, an Associated Press report said.
The report said Jeff Jordan, who most recently was president of eBay's PayPal payment business, led eBay's North America division from 2000 to 2004 and had been presumed by some analysts as the likely successor to CEO Meg Whitman.
But the executive was quoted in an interview as saying that he wanted to spend more time with his wife and two children.
He would be replaced by Rajiv Dutta, who had been with the company since 1998, serving as chief financial officer, head of strategy and president of Skype, the Internet phone service eBay acquired last year, the report said.
The San Jose-based company's shares, meanwhile, fell $1.51, or 5.3%, to $26.85 on the Nasdaq following analyst reports that voiced concern about eBay's long-term position.
One report, by Lehman Bros. analyst Douglas Anmuth, said Jordan's departure was "highly significant" because it came as eBay was facing new challenges and competitive threats, the report further said.