The payments processor plans to spin off its merchant business, which will reclaim its Worldpay name, and appointed its former CEO, Charles Drucker, to lead the unit
Dan Schulman plans to retire at the end of the year, giving PayPal's board a head start on finding his successor, he said during an earnings call with analysts
Like the company's $1 billion sale of its Netspend consumer unit, the divestiture reflects efforts to refine its portfolio, said Global Payments CEO Jeff Sloan
