EBay Gives Itself 3 to 6 Months to Find a New CEO for PayPal

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Following the departure of Scott Thompson, who has become the new CEO at Yahoo!, eBay will take some time to find a successor.

“There is no immediate pressure to find a successor to Thompson because PayPal has a strong team”, declared eBay CEO John Donahoe during the DLD conference in Munich. Donahoe has assumed the position of interim CEO at PayPal and remarked that he has not yet decided whether the new president of PayPal should come from the inside or from outside the company.

PayPal is the fastest-growing unit in the eBay group. The company is looking to gain customers from among Visa and MasterCard credit card specialists and it has recently unveiled a payment project at over 2000 Home Depot stores.

Donahoe wants to give a little push to eBay activities, which have moved little since he took over the group in 2008. He has increased marketing expenses by 25% last year and improved eBay technology in order to bring back users who had switched to rival platforms such as Amazon.

Source: e-commercefacts.com

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