March 29, 2012, 10:43 AM

PayPal promotes its main mobile executive to president

David Marcus takes over for Scott Thompson, who left for Yahoo.

Lead Photo

David Marcus

PayPal, the online payments unit of eBay Inc., soon will have a new president. David Marcus takes over April 2, replacing Scott Thompson, who left in January when he became CEO of Yahoo Inc.

Marcus wins promotion from his job as vice president of mobile for PayPal. He joined PayPal in 2011 after the acquisition of mobile billing company Zong, where he was founder and CEO. According to an SEC filing, Marcus will receive an annual base salary of $620,000 with a target annual bonus of 100% of his base salary. He also will receive various stock options.  

Marcus reports to eBay president and CEO John Donahoe. "David is the right leader for PayPal," Donahoe says. "He is a successful technology entrepreneur with a passion for great products that engage and delight customers. He will bring start-up energy to PayPal's unmatched global reach and digital payments capabilities. And he will sharpen PayPal’s focus on accelerating product innovation, driving consumer engagement and making paying anytime, anywhere through your digital wallet a safe, easy and convenient experience.”

During his job overseeing PayPal’s mobile efforts, the eBay unit introduced PayPal Here, a service that enables merchants to accept credit and debit cards, PayPal and checks via an iPhone PayPal app. PayPal also is trying to extend itself into store payments; The Home Depot is rolling out in-store acceptance of PayPal to most of the hardware chain’s 2,000 stores. 

At the Internet Retailer Conference & Exhibition 2012 in June, Brian Tilzer, Staples’ vice president of e-commerce and business development, will give the keynote for the mobile workshop. His keynote address is entitled “Why Staples is investing big in mobile commerce.” The IRCE $200 early-bird discount expires March31.

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