Fastcompany·2026-02-04 14:03Core Insights - PayPal is replacing CEO Alex Chriss with Enrique Lores due to unmet expectations regarding the pace of change and execution over the past two years [1] - Lores, who has been a board member for nearly five years and board chair since July 2024, aims to accelerate innovation in the rapidly evolving payments industry [1] - The company reported fourth-quarter results showing an adjusted profit of $1.23 per share on revenue of $8.68 billion, which fell short of analyst expectations [1] Leadership Changes - Enrique Lores will officially take over as CEO on March 1, with Jamie Miller serving as interim CEO until then [1] - David Dorman has been appointed as independent chair effective immediately [1] Financial Performance - PayPal's fourth-quarter adjusted profit was $1.23 per share, while revenue reached $8.68 billion [1] - These results did not meet the expectations of analysts, who anticipated a profit of $1.29 per share and revenue of $8.77 billion [1]