|Mon June 9 2014 16:46:43|
eBay Loses PayPal President David Marcus to Facebook
By: Ina Steiner
eBay is losing the head of PayPal, it announced on Monday. PayPal President David Marcus is leaving eBay on June 27 to lead Facebook's messaging products.
The parting of ways seems collegial, with eBay CEO John Donahoe saying nice things about Marcus in a statement (Marcus helped make a great business better, reinvigorating product design and innovation and energizing the team to deliver compelling consumer experiences).
Likewise Marcus bid a fond farewell to PayPal employees on a post on LinkedIn (the hardest thing for me in my (painful) thought process was around the amazing people at PayPal I've been blessed to work with in the last 3 years).
Another indication it was not a contentious parting of ways was the fact that Marcus will stay on for another 3 weeks.
Donahoe will have a daunting task to find a candidate that can step into place with an unplanned transition. It's one more major issue he has to deal with, and it will be interesting to see how he responds to possible questions about the Marcus departure, the security breach and the manual action Google took against eBay at his keynote address on Wednesday morning at the Internet Retailer conference.
Ironically, it seems Marcus took his own advice about leaving PayPal. Venture Beat published a memo in which Marcus scolded employees for not using PayPal on mobile devices:
"In closing," Marcus wrote in the memo, "if you are one of the folks who refused to install the PayPal app or if you can't remember your PayPal password, do yourself a favor, go find something that will connect with your heart and mind elsewhere. A life devoid of purpose, and passion in what you do everyday is a waste of the precious time you have on this earth to make it better."
I hopped on the phone with eBay Inc. spokesperson Amanda Miller this afternoon and asked a few questions, here's the gist of the conversation:
When will eBay announce a replacement for David Marcus?
Amanda Miller: When we find the right candidate.
Does eBay have any candidates in mind?
Amanda Miller: We just announced the news, we'll conduct a search to find the best candidate.
Will PayPal be able to navigate smoothly after June 27 if no replacement has been found?
Amanda Miller: Of course. John Donahoe will lead the PayPal day-to-day operations. We have a strong leadership team in place.
Will PayPal consider internal candidates?
Amanda Miller: We will search internally and externally to identify the best candidate.
Is David Marcus's departure in any way related to Carl Ichan?
Amanda Miller: Absolutely not, David has always been supportive of the company's view that there are synergies between eBay and PayPal.
Is David's departure in any way related to the security breach?
Amanda Miller: Absolutely not. David explained in his post on LinkedIn that he enjoys working with small teams and building something new and meaningful at scale.