PayPal Names Enrique Lores CEO Starting March 1, Replacing Alex Chriss

Core Insights - PayPal announced a CEO change, appointing Enrique Lores as the new president and CEO effective March 1, replacing Alex Chriss to accelerate execution in a competitive payments market [3][4] - The board appointed David W. Dorman as independent board chair, following a review that indicated progress but insufficient pace of change [4] Leadership Transition - Enrique Lores has been on PayPal's board for nearly five years and served as board chair since July 2024, bringing experience from his tenure as president and CEO of HP [3][5] - Jamie Miller, the Chief Financial and Operating Officer, will act as interim CEO until Lores takes over [3] Strategic Direction - The leadership change is aimed at guiding PayPal through its next phase of transformation, with a focus on new growth engines and partnerships [6] - Recent initiatives include the launch of a Transaction Graph Insights & Measurement program to help brands measure campaigns using verified purchase data [6] Acquisitions and Partnerships - PayPal plans to acquire Cymbio to enhance agentic commerce tools, making merchant catalogs more discoverable on AI platforms [7] - The company expanded its partnership with Deutsche Bank to improve merchant settlement and related services across regions [7] - In September, PayPal sold approximately $7 billion in buy now, pay later loans to Blue Owl Capital to maintain a light balance sheet [7]