eBay India CEO quits

Head honcho of eBay's India outfit quits after two years at the helm, to pursue "entrepreneurial" ambitions and will be succeeded by a local Microsoft veteran.

eBay India CEO B. Muralikrishnan has quit to explore "entrepreneurial opportunities" and will be succeeded by a local Microsoft veteran. 

Muralikrishnan will end his eight-year tenure at the company by end-June, where he had served as the head honcho for the last two years, the online auction site said in a statement released Tuesday. On the same day, the executive broke the news to his 639 Twitter followers.

"After eight wonderful years at eBay, moving on by end of the quarter to pursue an entrepreneurial adventure," he wrote via the microblogging service. "Will be looking at business ideas in the Internet and mobile space, feeding my passion to build great product experiences."

Muralikrishnan will be replaced by Latif Nathani, whose previous 15 year-stint at Microsoft India included leading the consumer incubator unit which invested in mobile payments technology.

eBay India, with 5 million registered users across 4,306 Indian cities, will focus on being a "mobile first" company, according to Asia-Pacific senior vice president, Jay Lee. "Nathani's deep experience in mobile, combined with his solid professional track record in India and the U.S., make him an ideal candidate to lead eBay's Indian business through the exciting changes ahead," Lee said.

In April, American investor Norwest Venture Partners tipped US$8 million into PepperFry, a one year-old Indian e-commerce homewares Web site founded by eBay India veterans, Ashish Shah and Ambareesh Murty.