Marcus named PayPal President

On April 2, 2012, eBay Inc. appointed David Marcus, formerly Vice President of Mobile for its payments subsidiary PayPal Inc., to succeed Scott Thompson as President of PayPal. Thompson left PayPal in January 2012 to take over as the new Chief Executive Officer at Yahoo! Inc.

Marcus joined PayPal's executive management team in August 2011 when PayPal acquired his mobile payment company, Zong. Marcus was Zong's founder and CEO.

John Donahoe, President and CEO of eBay said Marcus' job is to accelerate product innovation, drive consumer engagement and help make the PayPal digital wallet "a safe, easy and convenient experience." Donahoe added he believes Marcus will help make PayPal "a leading technology-driven and customer-focused product innovation company."

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