eBay CEO will run PayPal in interim

EBay Inc.'s chief executive said in an email to employees on Wednesday morning that he will run the company's PayPal business himself on an interim basis following the departure of President Scott Thompson, who was named the new CEO of Yahoo.

In the posting, eBay CEO John Donahoe said Thompson informed him of his decision Tuesday afternoon.
"And while I'm sure Scott's decision is a shock to many of you, as it was to me, there is one thing I am certain of: PayPal has an enormous opportunity in front of it and we will not slow down," he wrote in the email, which was posted on eBay's company blog.

He added that PayPal had "an outstanding 2011 and a strong close to the fourth quarter."
EBay shares were last trading down 4.2% to $30.05.

---