PayPal Appoints Enrique Lores as Chief Executive Officer and David W. Dorman as Independent Board Chair

PayPal’s board has appointed Enrique Lores as its new President and Chief Executive Officer, with the role becoming effective March 1, 2026. He will succeed Alex Chriss, who has led PayPal for a little over two years.

Key details

• Effective date: Lores formally takes over as President and CEO on March 1, 2026.

• Current roles: He has been a PayPal board member for nearly five years and has served as Board Chair since July 2024.

• Interim leadership: Until March 1, Jamie Miller, PayPal’s Chief Financial and Operating Officer, will act as Interim CEO.

• Predecessor: Lores replaces Alex Chriss, whose pace of execution and transformation was cited by the board as not meeting expectations.

Enrique Lores’ background

• Previous position: Lores has been President and CEO of HP Inc. for more than six years, leading major strategic transitions and expanding into services, subscriptions, and AI‑enabled offerings.

• PayPal board tenure: He joined PayPal’s board in 2021 and was later named Independent Chair of the Board in 2024.

• Experience: He brings over three decades of technology and commercial experience, with a track record in complex corporate transformations and cost-structure simplification.

Why the change matters

• Board’s rationale: PayPal’s directors said that while some progress had been made under Chriss, the pace of change and execution lagged what they wanted, especially given intense competition and a shifting payments landscape.

• Strategic focus: Lores has emphasized strengthening PayPal’s culture of innovation, delivering new products faster, and leveraging AI as the payments industry undergoes rapid technological and regulatory change.

Market and company context

• Performance backdrop: The leadership change comes amid a challenging period for PayPal, including a notable decline in its share price over the past year and guidance indicating pressure on 2026 earnings.

• Board expectations: The board expects Lores’s transformation experience and customer‑centric approach to help reassert PayPal’s leadership in digital payments and commerce.