"PayPal is replacing CEO Alex Chriss with Enrique Lores, saying that the pace of change and execution at the company has not met board expectations over the past two years. Lores has served as a PayPal board member for almost five years and has been board Chair since July 2024. He's also spent more than six years as president and CEO of HP Inc."
""The payments industry is changing faster than ever, driven by new technologies, evolving regulations, an increasingly competitive landscape, and the rapid acceleration of AI that is reshaping commerce daily," Lores said in a statement on Tuesday. "PayPal sits at the center of this change, and I look forward to leading the team to accelerate the delivery of new innovations and to shape the future of digital payments and commerce.""
PayPal replaced CEO Alex Chriss with Enrique Lores after the board concluded that the pace of change and execution had not met expectations over the past two years. Lores, a PayPal board member for almost five years and board Chair since July 2024, will become CEO on March 1, with Jamie Miller serving as interim CEO until then and David Dorman named independent chair immediately. Lores previously served more than six years as president and CEO of HP Inc. Lores emphasized rapid industry shifts from technology, regulation, competition, and AI and pledged to accelerate innovation. PayPal reported Q4 adjusted EPS of $1.23 on $8.68 billion revenue, missing analyst expectations.
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