Facebook Hires PayPal President to Run Messaging Division
Published on: 10th Jun 2014
Facebook has managed to hire the President of PayPal, David Marcus to head up development of its own in house messaging services.
In a blog post, Marcus said that he prefers to run small teams of developers, and had ended up as a manager of 14,000 staff instead. He said that he recently had conversations with Facebook's Mark Zuckerberg, and while wary of joining another large firm, he felt the scale of the Messaging Products division fitted his personal preference.
PayPal's leadership team will report to eBay's CEO until a new president is named.
"An entrepreneur at heart, David has made a career decision to focus on what he loves most - leading smaller teams to create great product experiences," said eBay President and CEO John Donahoe. "We wish him well. He leaves behind a strong leadership team, committed to not skipping a beat on executing our plans, scaling product innovation and driving global growth."
The company, which expects to report second quarter results on July 16, said PayPal continues to build good momentum and is on track to meet its guidance for 2015.