PayPal (PYPL) CEO Enrique Lores is reorganizing the company’s reporting lines to separate Venmo, Hugh Son of CNBC reports. Venmo will soon be its own standalone segment within PayPal, making it easier to potentially sell the business, people with knowledge of the changes told CNBC. PayPal is looking to recruit a digital banking executive to run the new Venmo segment, the sources added. Shares of PayPal are up 3% to $51.06 following the report.
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