Meg Whitman, chief executive of online auctioneer eBay, has announced that she will be stepping down from her position at the end of March.
After serving the multibillion dollar company for more than a decade, Ms Whitman said: "It's time for eBay, and this community, to have a new leadership team, a new perspective and a new vision."
The move has been widely expected by analysts.
After joining the company in 1998, much of eBay's successful transformation from a small online company to an e-commerce icon has been attributed to Ms Whitman's management.
The US firm saw a 53 per cent rise in year-on-year net income for the three months to the end of last December, while the firm's operating margin increased by 2.5 per cent, according to today's trading statement.
"We had a remarkably strong year from a financial perspective. We enter 2008 with our most diverse portfolio of ecommerce offerings ever - positioning us to drive long-term growth in the global ecommerce market," Ms Whitman said, commenting on the performance.
Ms Whitman has also announced the she will be succeeded by John Donahoe, who has been groomed for the job, and will remain on the firm's board of directors.
The e-commerce giant's share price increased by nearly seven per cent to $29 (£14.50) in yesterday's trading on the Nasdaq.
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