EBay Inc. named mobile technology entrepreneur David Marcus president of its PayPal unit yesterday, replacing Scott Thompson, who left in January to become chief executive of Yahoo!
The appointment shows the importance of PayPal’s push into mobile payments globally and its efforts to process transactions in physical stores, not just online.
Marcus, a native of France, who turns 39 on April 12, said he plans to stick to the strategy Thompson and other top PayPal executives set in recent years.
PayPal’s top priorities are developing “products and consumer experiences” that change the way people pay around the world, Marcus said.
John Donahoe, eBay’s chief executive, said PayPal is at an important “inflexion point” because it is moving into offline payments.
PayPal is eBay’s most valuable business, so analysts and investors had been watching closely to see who would replace Thompson.
EBay shares slipped 0.7 percent to $36.99 in trading on Nasdaq.
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Scott Thompson, Thompson, PayPal, chief executive, EBay Inc., David Marcus, Marcus said.John Donahoe, Yahoo!
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