Carges resigned from the position to focus on a family matter, the company said in a blog post. Carges will still serve on several boards, but is stepping away from a full time operating role.
"During the past five years, Mark has made countless contributions to eBay Inc. and its businesses," the company wrote. "From overhauling search, and steering upgrades to the eBay Enterprise technology portfolio, to accelerating innovation through a number of strategic acquisitions, Mark has been instrumental to eBay's success. Among his greatest contributions is his effort to develop eBay technologists, expand their career and increase eBay's technology presence in India and China."
TheStreet Ratings team rates EBAY INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate EBAY INC (EBAY) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."