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PayPal has announced the hiring of HP's Enrique Lores as its new CEO and President, replacing Alex Chriss. The leadership change comes as PayPal reported lower-than-expected fourth-quarter revenue and profit, with Lores set to take over from interim CEO Jamie Miller.
AI 生成摘要
PayPal 宣布將聘任惠普的 Enrique Lores 作為新任執行長兼總裁，接替 Alex Chriss。此次領導層變動發生在 PayPal 公布第四季營收和獲利不如預期之際，Lores 將從代理執行長 Jamie Miller 手中接任。
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Posted:
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, succeeding Dan Schulman. PayPal’s CFO and COO, Jamie Miller, will take over as interim CEO until Lores joins the company.
The appointment comes as PayPal on Tuesday reported lower-than-expected revenue and profit in the fourth quarter, as consumer spending dipped amid a broader cost of living crisis and a softening labor market. The company also forecast a dip in its full-year profit, which surprised investors, as Wall Street had broadly expected the company to forecast growth instead.
PayPal’s shares were down about 17.9% in premarket trading on Tuesday.
Lores, who served as President and CEO of HP for over six years, said that apart from product innovation, PayPal will hold itself accountable for delivering quarterly accounts.
“The payments industry is changing faster than ever, driven by new technologies, evolving regulations, an increasingly competitive landscape, and the rapid acceleration of AI that is reshaping commerce daily. PayPal sits at the center of this change, 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,” Lores said in a statement.
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