Hill Ferguson — PayPal’s SVP Of Consumer Business — Is Moving On

It looks like former eBay/PayPal CEO John Donahoe will not be alone taking a long vacation post-PayPal spinoff. Hill Ferguson, who is currently product and engineering boss for PayPal’s consumer business, is bowing out.

Ferguson will be replaced by Bill Ready — his counterpart on the merchant side of the business — which will place Ready as the head of product and engineering for the entire company.

This moves comes as something of a surprise as it has been less than a year since PayPal CEO Dan Schulman divvied up product and engineering responsibilities in advance of the PayPal IPO. Ferguson was formerly the company’s chief product officer, while Ready joined up at PayPal when it bought out Braintree, the payments firm of which he was once the CEO.

“We thank [Ferguson] for his integrity, commitment and leadership in building amazing products and pushing our teams to always put the customer first in everything they do,” the statement said. “Hill helped put the building blocks in place for PayPal to realize its potential in payments and beyond.”

For his part, Ferguson wrote in his parting Facebook post, “PayPal is in unquestionably better shape today than it was four years ago thanks to the hard work and dedication of too many people to name, and I’m looking forward to watching that momentum build in the coming years. As for me, I’m looking forward to coaching/winning soccer, pee wee football and my next mountain to climb.”

Ferguson came to PayPal in 2011 via its acquisition of Zong, where he was an executive. David Marcus, the former head of Zong, went on to become PayPal’s president and from that office elevated Ferguson to chief product officer. Marcus then jumped ship from PayPal and went on to head Facebook’s Messenger service. In a comment on Hill’s wall, he wrote, “Very few people fully understand how hard that transformation was, and there’s no way it could’ve happened without you. Onward!”

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