Person-to-person payment operator PayPal has promoted executive vice president of product David Sacks to chief operating officer.
In his new role, Sacks will have responsibility for product development and design, sales and marketing, business development, international, customer service, fraud operations, and HR functions at PayPal.
Sacks joined the company in November 1999. Previously he has worked for McKinsey & Company, and as a legislative aide for a US representative.