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eBay, PayPal To Split Into Two Public Companies In 2015

September 30, 2014: 12:00 AM EST
eBay’s directors have approved a plan to split the company’s eBay and PayPal business units into separate publicly traded companies in 2015. The split will preserve – at “arm’s length” – the companies’ operating arrangements. Devin Wenig, president of eBay Marketplaces, will become CEO of eBay, while American Express executive Dan Schulman will become CEO of PayPal. The companies said in a statement that that the separation “positions eBay and PayPal to capitalize on their respective growth opportunities in the rapidly changing global commerce and payments landscape”.
"eBay Inc. to Separate eBay and PayPal into Independent Publicly Traded Companies in 2015", eBay Inc., September 30, 2014, © eBay Inc.
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