PayPal head David Marcus to resign, move to Facebook

David Marcus

David Marcus

eBay announced last week that PayPal President David Marcus will leave the company later this month to take charge of Facebook’s messaging products.

“As the head of PayPal, David helped make a great business better, reinvigorating product design and innovation and energizing the team to deliver compelling consumer experiences,” eBay President and CEO John Donahoe. “An entrepreneur at heart, David has made a career decision to focus on what he loves most – leading smaller teams to create great product experiences. We wish him well. He leaves behind a strong leadership team, committed to not skipping a beat on executing our plans, scaling product innovation and driving global growth.”

eBay said PayPal—a subsidiary of the company—is on track to meet guidance for 2015. PayPal’s leadership will report to Donahoe until a new president is appointed to the company, which has more than 148 million active accounts. Last year, it processed $180 billion in payments.

“Leading PayPal has been one of the most amazing experiences of my career,” Marcus, who will leave on June 27, said. “I’m proud of what we’ve done together over the past two years, reinvigorating and accelerating product innovation and strengthening PayPal’s global leadership in mobile and digital payments. I believe PayPal is poised for long-term success in creating the future of money. And I know the business has a strong leadership team in place.”

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