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PayPal names COO

PayPal has named David Sacks as its chief operating officer, a newly created position with the company, the online payments company announced Tuesday. Sacks, who previously worked as the company's executive vice president of product, has been serving as COO since February. In his new position, Sacks oversees product and business development, sales and marketing, and customer service operations. Sacks, who was paid $170,000 last year in salary and bonus, joined PayPal in November 1999.

PayPal has named David Sacks as its chief operating officer, a newly created position with the company, the online payments company announced Tuesday. Sacks, who previously worked as the company's executive vice president of product, has been serving as COO since February. In his new position, Sacks oversees product and business development, sales and marketing, and customer service operations. Sacks, who was paid $170,000 last year in salary and bonus, joined PayPal in November 1999.