Tuesday September 30, 2014

eBay, PayPal Splitting Into Separate Companies In 2015

It looks like eBay and PayPal are going all 2001 on us.

Online auction house eBay said Tuesday it plans to split its PayPal unit into a separately traded company next year. The separation will bring in two new leaders. Devin Wenig, eBay Marketplaces president, will become the new CEO of eBay. Dan Schulman, president of the American Express Enterprise Growth Group, will serve as the new CEO of PayPal.