The Freeland File
Global Market Data
Tales from the Trail
Lucy P. Marcus
David Cay Johnston
The Great Debate
Jack & Suzy Welch
Macro & Markets
Lipper Awards 2012
Personal Finance Video
Exclusive: Brazil to rally BRICS against rich countries
28 Mar 2012
Pope meets Cuba's Fidel Castro, slams U.S. embargo
28 Mar 2012
Authorities charge JetBlue pilot for midair meltdown
Special Report: Gaddafi's secret missionaries
Man hugs doctors after seeing face transplant in mirror
27 Mar 2012
Poll: Americans angry with Obama over gas prices
Cheney recovering after heart transplant: spokeswoman
Black friend defends shooter of Florida teen
Congressman dons a hoodie, gets kicked off House floor
Wed, Mar 28 2012
Elephant runs away from circus
Horror hits the runway in Japan
Fri, Mar 23 2012
EBay names David Marcus president of PayPal
Starbucks factory investments to create 150 jobs
Wed, Mar 21 2012
Yahoo sues Facebook for infringing 10 patents
Mon, Mar 12 2012
Wal-Mart raises dividend nearly 9 percent
Thu, Mar 1 2012
Analysis & Opinion
Boohoo for Yahoo
Visitors walk past an Ebay and PayPal banner at the Mobile World Congress in Barcelona February 28, 2012.
Credit: Reuters/Albert Gea
By Alistair Barr and Jessica Wohl
Thu Mar 29, 2012 11:07am EDT
(Reuters) - EBay Inc on Thursday named David Marcus president of its PayPal unit, replacing Scott Thompson, who left in January to become chief executive of Yahoo Inc.
The appointment shows the importance of PayPal's push into mobile payments and its efforts to process transactions in physical stores, not just online.
Marcus came to PayPal last year when eBay acquired Zong, a mobile payments company that he founded. Marcus had been PayPal's vice president of mobile and will become its president on April 2, eBay said.
PayPal is eBay's most valuable business, so analysts and investors had been watching closely to see who would replace Thompson.
"He is a well-regarded executive and entrepreneur with both a payments and Internet background," said Colin Sebastian, an analyst at Robert W. Baird & Co. "A really smart guy."
Marcus and another former Zong executive Hill Ferguson led the recent launch of PayPal Here, a service that lets small merchants accept credit card and PayPal payments through a triangular "dongle" that plugs into the top of iPhones.
Marcus "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," eBay chief executive John Donahoe said in a statement.
EBay shares slipped 0.8 percent to $36.95 in morning trading on Thursday.
(Reporting by Jessica Wohl in Chicago; Editing by Gerald E. McCormick)
Related Quotes and News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Back to top
New York Legal
Support & Contact
Connect with Reuters
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
About Thomson Reuters
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.