PayPal Holdings Inc. (NASDAQ: PYPL) has announced a major leadership reshuffle as it positions itself for faster innovation and stronger execution in an increasingly competitive digital payments market.
The company disclosed that Enrique Lores has been appointed President and Chief Executive Officer, with his tenure set to begin on March 1, 2026.
He will take over from Alex Chriss, who has led the company for the past two and a half years. In the interim, Jamie Miller, PayPal’s Chief Financial and Operating Officer, will serve as Interim CEO to ensure operational continuity.
In a parallel move, PayPal also named David W. Dorman as Independent Chair of the Board, effective immediately.
Board Signals Need for Faster Execution
According to PayPal’s Board of Directors, the leadership changes follow an extensive internal review of the company’s performance relative to industry peers.
While acknowledging progress in recent years, the Board concluded that the pace of execution and transformation did not fully meet expectations.
The Board expressed confidence that Lores’ extensive background in technology leadership and large-scale transformation would help accelerate PayPal’s strategic priorities, particularly in AI-driven innovation, product development speed, and operational discipline.
Enrique Lores Brings Decades of Tech Leadership
Lores joins PayPal with more than 30 years of technology and commercial experience, most recently serving as President and CEO of HP Inc. for over six years.
During his time at HP, he led major strategic shifts that expanded the company beyond traditional hardware into services, subscriptions, and AI-enabled solutions.
He also played a key role in strengthening operating efficiency, simplifying cost structures, and positioning HP for long-term growth following its corporate separation.
Speaking on his appointment, Lores said PayPal is uniquely positioned at the center of global commerce and financial innovation.
“The payments industry is evolving at an unprecedented pace, shaped by new technologies, regulation, and the rapid acceleration of artificial intelligence,” Lores said. “My focus will be on strengthening innovation while delivering results with greater speed, precision, and accountability.”
Transition and Outlook
Outgoing CEO Alex Chriss was credited by the Board for advancing PayPal’s customer-focused initiatives, including progress in monetizing Venmo, expanding Buy Now, Pay Later (BNPL) offerings, and modernizing the company’s technology platform.
Chriss stated that the transition comes at the right time, noting his confidence in Lores’ ability to guide PayPal through its next phase of growth.
PayPal’s Board emphasized that the company’s long-term value remains anchored in its global scale, data capabilities, two-sided platform connecting consumers and merchants, and strong partner ecosystem—all of which it believes can be unlocked further through sharper execution.