PayPal Taps Mobile Division Chief As New CEO

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PayPal

(Karen Bleier/AFP/Getty Images)

SAN JOSE (CBS/AP) — PayPal’s mobile unit chief will become the online payments service’s next CEO.

David Marcus, PayPal’s vice president of mobile, is succeeding Scott Thompson, who left in January to become CEO of Yahoo Inc. Marcus will move into the new job on Monday.

Marcus’s leadership should help PayPal continue its drive to move beyond traditional computers to phones and other mobile devices. Recently, PayPal unveiled a service that lets small businesses from coffee shops to plumbers accept credit cards using a small triangular card reader attached to a smartphone.

Marcus joined PayPal in August as part of its acquisition of Zong, a mobile payments provider that Marcus founded.

Marcus will report to John Donahoe, president and CEO of PayPal’s parent company, eBay Inc.

 

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