Longtime StubHub president Chris Tsakalakis has stepped down from his position and left the company, StubHub has confirmed to TechCrunch today. His resignation, which comes just months after StubHub laid off 100 employees over the summer, is effective immediately and the company is undergoing a search for a replacement.
Tsakalakis had run the StubHub business since 2007, when he took over as president after the ticket resale company was acquired by eBay. Prior to that, he had served as manager of eBay’s Advanced Solutions Group, which oversaw eBay Stores and subsidiary ProStores.
During his tenure StubHub grew into the largest ticket resale platform in the world, but recently the company has faced headwinds due to increasing competition in the industry. Some of that pressure has come from Live Nation’s Ticketmaster, which released its own ticket resale marketplace for customers. But it’s also seeing increasing competition from a number of smaller startups that have recently entered into the ticketing space, including companies like Applauze, Yplan, and Gametime.
In June StubHub reduced headcount in its field operations after failing to meet parent company eBay’s expectations. During that reorganization, the company laid off 100 employees out of a total of about 700, according to sources.
Apparently StubHub’s performance continued to lag behind expectations since then. Notably, Tsakalakis’ departure comes just a week after close of the Major League Baseball playoffs and World Series, which should be a high-water mark for the company.
Following Tsakalakis’ resignation, StubHub North America lead Noah Goldberg and CFO Ajay Gopal will run the business as the company seeks a new president. That search is underway, but it’s unclear if a candidate will emerge from inside or outside the company.
Stubhub issued the following statement about Tsakalakis’ departure:
Chris Tsakalakis has decided to leave StubHub, and has stepped down as president effective immediately. StubHub’s North America lead, Noah Goldberg, and CFO, Ajay Gopal, will serve as the interim co-leads for the business. We will begin a search immediately to identify the right person to lead StubHub in the future.
Chris has made an enormous impact at eBay and StubHub during his 11+ years here. During his tenure, StubHub has grown into the largest ticket marketplace in the world. He has been an avid champion for customers and has made a focus on fans central to the StubHub DNA. We are grateful for his many contributions over the years, and look forward to following his ongoing success.