David Marcus, president of eBay's payments business PayPal, is moving to Facebook to head up its messaging products offering. PayPal's leadership team will report directly to eBay president John Donahoe until a successor is found.

In a Facebook post, Marcus, who joined PayPal three years ago following its acquisition of his company, Zong, says that, "after much deliberation, now is the right time for me to move on to something that is closer to what I love to do every day. Now is the time, because I feel that PayPal has never been in a better position to capitalise on its unique place in the market. Now is the time, because the product pipeline is strong, and these new experiences are scaling out. Now is the time, because its reputation with developers is getting better by the day, because Braintree’s acquisition will truly enable PayPal to win in that space. Now is the time, because the leadership team is strong, and talent is flowing into the company again. In summary, now is the time because it is on track to achieve the greatness it deserves in the years to come."

He adds: "While I was in the middle of my thought process about what was next for me, Mark Zuckerberg and I got together. Mark shared a compelling vision about mobile messaging. At first, I didn’t know whether another big company gig was a good thing for me, but Mark’s enthusiasm, and the unparalleled reach and consumer engagement of the Facebook platform ultimately won me over. So…yes. I’m excited to go to Facebook to lead messaging products. And I’m looking forward to getting my hands dirty again attempting to build something new and meaningful at scale."

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