When the venerable Wall Street Journal writes something that other outlets have been reporting for weeks, it becomes news. The financial newspaper said eBay CEO Meg Whitman is preparing to step down, with a decision that "could come within weeks, though the situation remains fluid." The paper pegs John Donahoe as Whitman's successor.

Photo: John Donahoe (left), surrounded by enthusiastic eBay employees during the 2005 eBay Live conference.

The WSJ does not speculate on what Meg will do upon retirement and fails to mention what others have noted: Whitman's fervent campaigning on behalf of presidential candidate Mitt Romney. Some believe a Romney win could place Whitman in a cabinet position (Secretary of Commerce has been floated). The more intriguing question is not whether Whitman will step down, but rather, what she would do if Romney fails to get the nomination.

Owen Thomas of the gossip newsletter Valleywag had a good analysis of Meg's reign: He points out that it can be divided into two parts: 1998 - 2005 ("the lucky years"), and 2005 - 20008 (when eBay has struggled). He notes that it was in 2005 that John Donahoe joined the company. While that's true, it's also the year Whitman failed to get the top job at Disney and seemed to lose her infallibility.

Donahoe comes from consulting firm Bain & Co (he, Whitman and Romney are all Bainies). In an interview with the Financial Times last month, Donahoe said he has been on a mission to bring eBay up to date, and he claimed more changes for the site in the past 12 months than the previous four to five years combined. Donahoe strongly believes in innovating the user experience on the platform, so for eBay sellers who may have hoped the changes would soon end, don't count on it.

All eyes are on eBay as it reports earnings on Wednesday. (Which analyst will draw short-straw to ask about Meg's retirement during the post-earnings conference call?)

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