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EBay is planning to separate its PayPal business into a separate, publicly traded company in 2015, the company announced.
The move has been advocated for some time by minority shareholder Carl Icahn, though his January 2014 proposal for the spinoff failed in April.
After the two companies are separated into two entities, Devin Wenig, currently the president of eBay Marketplaces, will become the CEO of eBay. Dan Schulman, previously the President of American Express’ Enterprise Growth Group, is joining the company to become president of PayPal; following the spinoff, he will become the CEO of PayPal. Read more...
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