US EditionPayPal replaces CEO Chriss with HP’s Lores
Enrique Lores will succeed Alex Chriss as CEO on March 1 after PayPal missed Q4 revenue and earnings estimates, causing shares to drop over 15%, board said.
- PayPal's Board named Enrique Lores to succeed Alex Chriss, effective March 1, 2026, with Jamie Miller serving as interim CEO until then.
- The Board concluded execution lagged its expectations, citing lower-than-expected fourth-quarter financial results and full-year profit forecast, with David W. Dorman saying it `was not in line with the Board's expectations'.
- PayPal reported key metrics showing shortfalls with adjusted EPS at $1.23 and revenue at $8.68 billion, below estimates, while online checkout growth slowed to 1%.
- Shares fell about 17.9% in premarket trading after the leadership change, with HP installing Bruce Broussard as interim CEO and Dorman becoming PayPal's chair.
- Enrique Lores brings extensive HP Inc. experience in services and AI to PayPal, with the Board prioritizing accelerated execution, restoring branded checkout momentum, and advancing the US bank application for small-business lending.
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PayPal shares plunge after CEO announcement, profit miss
PayPal Holdings Inc. said HP Inc. Chief Executive Officer Enrique Lores will take the top job from Alex Chriss, whose turnaround plan failed to meet targets and streamline the sprawling payments business.
The Board of Directors of PayPal Holdings has appointed the Spanish Enrique Lores, until now president and CEO of HP, as the new president and CEO of the online payment platform as of March 1, replacing Alex Chriss, as announced by the multinational. Chriss, who held the post since 2023 after replacing Dan Schulman, has failed in these three years to meet the objectives of the announced restructuring plan to speed up the payment business.
PayPal hires HP’s Enrique Lores as its new CEO
PayPal said on Tuesday it is hiring HP’s Enrique Lores as its CEO and President, replacing current chief executive, Alex Chriss. Lores, who has been the chair of PayPal’s board since July 2024, will also take up the role of president. PayPal said the appointment was made because company’s pace of change and execution was “not in line with the Board’s expectations” given broader market trends. Chriss joined PayPal in September 2023 from Ituit, su…
The Spanish Enrique Lores will be CEO of the company as of March 1, after more than 5 years linked to its board of directors. An organ that he chaired since July 2024. Lores, who is the current president and CEO of Hewlett - Packard (HP), will succeed Alex Chriss who has been relieved of his position this Tuesday "because the path of changes in the company and its execution were not in line with the expectations of the management." Until the eff…
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