Enrique Lores Leaving HP to Take Over PayPal

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SAN JOSE <&sol;span><&sol;span><&sol;strong>&&num;8212&semi; PayPal Holdings announced that its Board of Directors is hiring Enrique Lores as President and CEO&comma; effective <span class&equals;"xn-chron">March 1&comma; 2026<&sol;span>&period; Lores&comma; who has served on the PayPal Board for nearly five years and as Board Chair since <span class&equals;"xn-chron">July 2024<&sol;span>&comma; succeeds <span class&equals;"xn-person">Alex Chriss<&sol;span>&period; To ensure a seamless transition&comma; <span class&equals;"xn-person">Jamie Miller<&sol;span>&comma; Chief Financial and Operating Officer&comma; will serve as Interim CEO until Lores assumes the role&period; <span class&equals;"xn-person">David Dorman<&sol;span> has been appointed as Independent Board Chair&comma; effective immediately&period;<&sol;p>&NewLine;<p>The new CEO change follows a detailed evaluation conducted by the Board of Directors on the current position of the company relative to its competition and the broader industry landscape&period; While some progress has been made in a number of areas over the last two years&comma; the pace of change and execution was not in line with the Board&&num;8217&semi;s expectations&period; PayPal shares have dropped nearly 50&percnt; over the past year&period;<&sol;p>&NewLine;<p>The Board is confident that the appointment of Lores&comma; a seasoned executive with more than three decades of technology and commercial experience&comma; will provide the leadership necessary to lead PayPal into its next chapter&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Enrique is widely recognized as a visionary leader who prioritizes customer-centric innovation with demonstrable impact&period; His strong track record leading complex transformations and disciplined execution on a global basis will ensure PayPal maintains its leadership of the dynamic payments industry now and into the future&comma;&&num;8221&semi; said Dorman&period; &&num;8220&semi;I look forward to continuing to work with the Board and supporting Enrique as he takes on the CEO role&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Lores joins PayPal after more than six years as President and CEO of HP Inc&period;&comma; where he successfully led the company through a period of strategic transition and innovation&comma; expanding the business beyond its traditional PC and printing roots into services&comma; subscriptions&comma; and emerging future‑of‑work solutions&comma; including AI‑enabled offerings&period; He was also the lead architect of and built on the HP&sol;HPE separation&comma; strengthening operating discipline&comma; simplifying the cost structure&comma; and positioning the company for long-term innovation&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We will further strengthen the culture of innovation necessary to deliver long-term transformation and balance this with near-term delivery&comma; executing with greater speed and precision&comma; and holding ourselves accountable for consistent delivery quarter on quarter&comma; to further assert PayPal&&num;8217&semi;s industry leadership position&comma;&&num;8221&semi; said Lores&period; &&num;8220&semi;The payments industry is changing faster than ever&comma; driven by new technologies&comma; evolving regulations&comma; an increasingly competitive landscape&comma; and the rapid acceleration of AI that is reshaping commerce daily&period; PayPal sits at the center of this change&comma; and I look forward to leading the team to accelerate the delivery of new innovations and to shape the future of digital payments and commerce&period;&&num;8221&semi;<&sol;p>&NewLine;