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eBay to separate from PayPal in 2015

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Devin Wenig will become the CEO of eBay, Dan Shulman - CEO of PayPal
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Dan Schulman, the new face of PayPal
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Max Smolaks

eBay and PayPal will split into independent, publicly traded businesses by the second half of 2015, after receiving a blessing from the board of directors.

Under the terms of the separation, current president of eBay Marketplaces Devin Wenig will become the new CEO of eBay, while PayPal will be led by Dan Shulman, a former American Express executive.

Current CEO John Donahoe (who was the former president of eBay Marketplaces) will serve on the boards of both, but without an executive position.

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