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Paypal Shares Crash 20% as Company Names Hp Ceo to Replace Alex Chriss
Enrique Lores will replace Alex Chriss as PayPal CEO due to missed revenue targets and shareholder pressure, with interim CEO Jamie Miller leading until March 1.
- On Tuesday, PayPal announced it ousted CEO Alex Chriss and appointed Enrique Lores, CEO of HP Inc., as president and CEO starting March 1, while Jamie Miller remains interim CEO.
- The PayPal board said the detailed review cited execution shortfalls under Alex Chriss and ongoing shareholder frustration as reasons for leadership change.
- Quarterly figures revealed fourth-quarter revenue of $8.68 billion and rising expenses with net cash provided by operating activities disappointing.
- Market reaction showed PayPal shares plunged 20pc after a dim quarter and leadership change, while David W. Dorman was appointed independent board chair.
- The change continues a trend as CFO-to-CEO promotions in the Fortune 500 reached 10.26% last year, highlighting boards' growing preference for finance leaders, Crist Kolder Associates’ 2025 Volatility Report shows.
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PayPal (NASDAQ:PYPL) Shares Down 1.6% Following Weak Earnings
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Free Report) traded down 1.6% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $39.96 and last traded at $41.03. 57,739,096 shares traded hands during trading, an increase of 146% from the average session volume of 23,434,873 shares. The stock had previously closed at $41.70. The credit services provider reported $1.23 …
The payment service is extremely popular in Germany. But last time it went so bad that even the CEO has to go. What's going on?
·Munich, Germany
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Coverage Details
Total News Sources14
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
Factuality
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