PayPal executive David Marcus will be taking the helm of the online payments provider as president effective 2 April, PayPal owner eBay Inc has announced.
Marcus, as vice-president of Mobile for PayPal, has been leading PayPal’s mobile payments business and has driven mobile product innovations.
Reporting to eBay Inc. president and CEO John Donahoe, Marcus succeeds Scott Thompson, who left the company in January.
"David is the right leader for PayPal," Donahoe said. "He is a successful technology entrepreneur with a passion for great products that engage and delight customers.
"David leads with a founder’s perspective. 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 said he is honoured and excited to lead the business and to help make the digital wallet an amazing experience for merchants and consumers worldwide.
Marcus, who founded mobile payments provider Zong, worked as that company’s CEO until August 2011, when PayPal completed its acquisition of the firm.