PayPal (PYPL) Announces Leadership Transitions; Appoints New COO

September 30, 2016 3:13 PM EDT

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When PayPal became an independent company just over a year ago, we did so with clarity about the opportunities ahead of us. Rapid advances in mobile technology and the accelerating digitization of money have generated the ideal conditions to create a world in which payments and financial services are simple, safe, affordable, and accessible for everyone. No company is in a better position to fulfill the promise of this reinvention of money than PayPal.

In the past 14 months, we’ve strengthened our core technology platform, built a culture where innovation can thrive, delivered groundbreaking new products to our customers and completed important new agreements with partners within and beyond the financial services industry.

A key ingredient of PayPal’s success, progress and potential is our exceptional leadership. That is why I am excited to recognize seven of our talented leaders with promotions, and to introduce an Executive Vice President (EVP) designation to certain PayPal leadership positions. This new designation will also provide additional opportunities for VP and SVP promotions as well as career advancement.

Our leadership promotions include:

  • Bill Ready will be promoted to EVP, Chief Operating Officer and will be responsible for product, technology, and engineering.
  • Gary Marino will be promoted to EVP, Chief Commercial Officer and will be responsible for sales, marketing and credit.
  • Louise Pentland will be promoted to EVP and will become our Chief Business Affairs and Legal Officer. In addition to her current responsibilities as Chief Legal Officer, she will assume additional responsibilities for the Company’s Business Affairs, including government relations, social innovation and communications.
  • John Rainey, PayPal’s Chief Financial Officer, will be promoted to EVP. He will maintain his leadership of PayPal’s financial, global pricing, supplier management, and investor relations teams.
  • Jonathan Auerbach will be promoted to EVP. As PayPal’s Chief Strategy and Growth Officer, he will continue his current responsibilities driving our strategy, business development and partnerships.
  • Tomer Barel will be promoted to EVP, and will continue in his role as the Company’s Chief Risk and Data Officer.
  • Franz Paasche will be promoted to SVP, Corporate Affairs and Communications, and will continue his current responsibilities for government relations, communications and social innovation.

We are all fortunate to be part of a company that is at the forefront of progress during this important time of technology transformation. And I am honored to work with a talented team who share my passion about serving the needs and interests of our customers above all else.

I hope you’ll join me in congratulating each of these executives on their very well deserved recognition.

Dan Schulman, President and CEO, PayPal



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