sri shivananda
James Barrese

PayPal’s Chief Technology Officer Resigns

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James Barrese, the chief technology officer of PayPal, will resign on April 1 and his position will be taken over by two people. The online payments giant disclosed the news in an SEC filing, where it was first spotted by ZDNet.

Sri Shivananda, PayPal’s vice president of global platform and infrastructure, will take over as chief technology officer, while William Ready, its global head of product and engineering, will head the payment services functions that Barrese currently oversees.

In a statement, PayPal says Barrese decided to step down to take time off and will remain with the company for a few months to ease the transition between CTOs.

Barrese joined PayPal in 2011 after a decade as eBay and was appointed its chief technology officer in 2012. The company reported strong quarterly earnings last month, with revenue up 17 percent year over year.

Featured Image: Paul Sakuma/AP