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EcommerceBytes-NewsFlash, Number 2711 - January 05, 2012 - ISSN 1539-5065    2 of 4

eBay CEO Shocked at Departure of PayPal President

By Ina Steiner
EcommerceBytes.com
January 05, 2012




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eBay Inc. CEO John Donahoe sent a note to PayPal employees on Wednesday informing them that PayPal President Scott Thompson was leaving to become Yahoo's new CEO, effective immediately. "Scott informed me Tuesday afternoon, saying that despite his passion for PayPal, this was an opportunity he felt he had to take. I know I speak for everyone in wishing Scott the best."

Donahoe said that he was shocked by Thompson's decision - last year, Donahoe told analysts that PayPal would become bigger than eBay as early as 2 years from now.

Donahoe met with PayPal's leadership team on Wednesday to "plan a seamless transition" and will serve as PayPal's interim president.

In his note to employees, he said PayPal had an enormous opportunity in front of it and would not slow down. "We will not miss a beat. And we will continue driving the incredible momentum that each of you has helped to create."

Here's an interview with Scott Thompson from 2008, not long after he was named President of PayPal, where he talks about the competitive landscape in online payments, including touching on Google, and PayPal's focus in the next 12 - 24 months.

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About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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