According to an article on TIME.com PayPal is severing ties with EBay inc. and will become a completely separate publicly traded company by next year. ¬†Although the two companies are splitting, it is an amicable split and EBay said that its board decided that the separation of the two companies was the best path for PayPal’s growth and value creation for each business. ¬†PayPal has appointed Dan Schulman, the previous president of the Enterprise Growth Group at American Express will be the new president at Paypal , effectively immediately.

Source: TIME