PayPal COO exits the company at the end of this year
Bill Ready, PayPal’s chief operating officer, has announced that he will be leaving the company at the end of 2019. Ready has been a fixture at the top of PayPal’s management hierarchy ever since the company acquired his start-up, payments gateway Braintree, back in 2013. Since then, he’s been CEO Dan Schulman’s right-hand man, and a name that’s frequently mentioned as a possible successor. In a statement, PayPal said that Ready was “interested in pursuing other entrepreneurial interests outside the company.”
PayPal’s share price dipped very slightly on news of Ready’s departure, but is still up 40% this year
Source: Yahoo Finance
Ready has been a driving force in the business. He is responsible for product, technology, and engineering, including the customer experience for PayPal’s consumer and merchant businesses as well as Venmo, Braintree, Paydiant and Xoom. He has helped to oversee a shift in perspective at the company that saw it pivot to partner with many firms once considered its competitors (Mastercard, Visa, Apple, Google, Samsung and Walmart).
In a statement, he said: “Since joining PayPal six years ago, I have had the privilege of working alongside many incredibly talented people, and I am proud of what we as a leadership team have accomplished together. The transformative work we are doing has positioned PayPal for success well into the future. I am excited for PayPal’s future and committed to using the coming months to ensure a smooth transition, and support the great team we have at PayPal.”
Ready’s superior, president and CEO Dan Schulman, added: “Bill will always be an important part of the PayPal story. The Board and management team are grateful for his many contributions and for the customer focus, product excellence and culture of innovation he has helped to in-still over the past six years. Bill will continue to work with key partners and our leadership team until the end of the year. I appreciate his commitment to PayPal and its future.”
Dominion holds PayPal in its Global Trends Ecommerce Fund.
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