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EBay names David Marcus as PayPal president

By
Post Staff Report
Published March 29, 2012, 2:32 p.m. ET

SAN JOSE, Calif. — EBay announced Thursday that David Marcus will become the new PayPal president, effective April 2.

Marcus will replace Scott Thompson, who left the San Jose, Calif.-based firm in January to become Yahoo’s CEO, eBay said in a statement.

EBay president and CEO John Donahoe said of Marcus’ promotion, “David is the right leader for PayPal. He is a successful technology entrepreneur with a passion for great products that engage and delight customers.”

Donahoe added, “He will bring start-up energy to PayPal’s unmatched global reach and digital payments capabilities. And he will sharpen PayPal’s focus on accelerating product innovation, driving consumer engagement and making paying anytime, anywhere through your digital wallet a safe, easy and convenient experience.”

Marcus currently serves as vice president of mobile for PayPal’s rapidly-growing online payments division.

Speaking about his new role, Marcus said, “I’m honored and excited to be asked to lead this unique business and help make the digital wallet an amazing experience for merchants and consumers worldwide.”

EBay’s shares were down 0.7 percent at $36.99 shortly after market open Thursday.