PayPal technology exec James Barrese will leave the company April 1, according to an SEC filing.

Barrese, whose title is senior vice president of payment services and Chief Technology Officer, will be replaced by two people. Sri Shivananda, PayPal's vice president of global platform and infrastructure will become PayPal's new CTO, while William Ready, PayPal's global head of product and engineering, will assume Barrese's "payment service functions."

Earlier in his career, Ready was CEO of Braintree, a technology company PayPal acquired to bolster its ability to offer technology tools to third party developers. Braintree also owns the technology behind Venmo, PayPal's popular social payments product, as well as One Touch mobile payments and PayPal's bitcoin acceptance.

Shivananda's duties at PayPal include oversight of a command center to manage global e-commerce.

According to his LinkedIn profile, Barrese had been senior vice president and CTO since March 2015, before PayPal's separation from eBay, and an executive with eBay and PayPal since 2008. PayPal's separation from eBay was done in part to encourage PayPal to accelerate its technology development and mix of mobile, online and in-store channels.

No reason was given for Barrese's departure, and a PayPal spokesman would not comment.

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