The new logo keeps eBay's famous colors, red, blue, yellow and green, but the letters are thinner and arranged inline, rather than the previous, slightly jumbled approach.
The new design will be rolled out across the company's websites this fall.
"The eBay logo is known the world over, so changing it was not a decision made lightly. The time felt right," Wenig, president of eBay Global Marketplaces, wrote in an email to employees.
eBay is focusing more on new, fixed-priced sales as it tries to compete better with Amazon.com Inc, which has been growing faster. Wenig said the new logo reflects this new direction.
"It's eBay today: a global online marketplace that offers a cleaner, more contemporary and consistent experience," he wrote.
"Auction-style listings, used goods, vintage items and quirky, one-of-a-kind finds are still a big part of what makes buying and selling on eBay special," Wenig added. "But we've evolved a lot in the past few years, and eBay is much more than auction-style listings today."
Copyright Thomson Reuters 2012