The recent spate of resignations from eBay Inc. and its subsidiary PayPal Inc. is only a sign that those entities attract top talent and will continue to do so, according to an industry analyst.
Sam Shrauger, PayPal’s vice president of global product and experience and a key player in the integration of the company’s Bill Me Later service after its 2008 acquisition, resigned this week to join Yahoo Inc.’s commerce division after an 8-year stint with PayPal (see story). David Marcus, PayPal president, will replace Shrauger on an interim basis.
Shrauger’s exit follows the departures of five other eBay/PayPal executives this year, including Scott Thompson, PayPal’s president, who also joined Yahoo as CEO (see story).
The drain only highlights what other companies think of eBay and PayPal’s workforce and the quality of those in the ranks of eBay and PayPal who vie for the open spots, Gil Luria, senior vice president of equity research for financial technology for Wedbush Securities, tells PaymentsSource.
“PayPal is one of the most-respected companies in Silicon Valley, so for a very long time it’s been a source for of new leaders for many other companies around Silicon Valley,” says Luria. “What we’ve seen in the last few weeks is a continuation of that.”
Despite the losses, PayPal has “a very deep bench,” and it should have many internal candidates to fill the holes left behind, he says.
“PayPal is going through one of the most exciting times in its history in terms of the transformation it’s going through and very ambitious agenda they have,” Luria says.
PayPal has acquired talent through traditional means but also with acquisitions, says Luria, citing Bill Me Later and mobile payments company Zong, which Marcus started.
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