#USA #PayPal #San Jose #Enrique Lores #David Dorman

Major Leadership Changes at PayPal

PayPal Holdings Inc. has made significant leadership changes following a decision by its Board of Directors. Effective March 1, 2026, Enrique Lores will step into the roles of President and Chief Executive Officer of the company, succeeding Alex Chriss. David W. Dorman has also been appointed as the new Independent Board Chair immediately.

Background on Enrique Lores

Lores comes to PayPal with a rich background in technology and leadership. He has been a member of PayPal's Board for almost five years, during which he has served as Board Chair since July 2024. His prior experience as President and CEO of HP Inc. saw him lead the company through a vital transition that expanded its services beyond traditional realms into innovative areas like AI-enabled offerings. His leadership qualities and vision make him a suitable choice to steer PayPal through its next phase.

The Transition from Alex Chriss

The company credited Alex Chriss for his tenure over the past two and a half years, where he significantly contributed to projects like monetizing Venmo and advancing the BNPL (Buy Now Pay Later) business model. Chriss emphasized the timing of Lores’ appointment, indicating that now is the perfect opportunity for a seasoned leader to guide the company into a new era. He remarked on his positive working relationship with Lores and expressed confidence in his capabilities.

Board's Confidence in New Leadership

David Dorman, the new Board Chair, expressed his optimism with the leadership transition, highlighting Lores as a visionary who focuses on customer-centric innovation. He underscored the importance of agility and execution in a rapidly changing payments industry. Both Dorman and Lores have signaled their commitment to leading PayPal through innovation while maintaining financial rigor and accountability.

A Vision for the Future

With Lores at the helm, the vision for PayPal centers on strengthening the culture of innovation and ensuring consistent, high-quality service delivery. He recognizes that the payments industry is evolving quickly due to new technologies and increased emphasis on AI and regulatory changes. Lores is excited to be at the forefront of this transformation, stating that PayPal aims to provide seamless experiences in digital payments and commerce.

Summary

As PayPal enters a new chapter under Lores' leadership, the company is poised to navigate the complexities of a changing financial landscape. The board's confidence in Lores and Dorman's leadership abilities positions PayPal to maintain its status as a leading player in the payments industry while fostering innovation and growth continuously. Their experience and strategic focus will be crucial for enhancing PayPal's competitive edge.

In conclusion, these leadership changes not only reflect a response to current market challenges but also illustrate PayPal’s commitment to long-term success through innovation and customer commitment.