02-04-2026, 12:27 AM
From the Information:
It’s no secret what’s ailing PayPal. The online payments innovator has become the AOL of the digital payments world, overtaken by faster-moving operations like Apple Pay. PayPal’s hiring of Chriss was an attempt to regain its mojo. When it named him to the job in September 2023, chair John Donahoe said he was “the perfect leader to take PayPal forward and accelerate the company’s growth opportunities.”
Today
In a statement, the board explained its replacement of Chriss by saying that after a “detailed evaluation” of PayPal’s position in the market, “the pace of change and execution was not in line with the board’s expectations.”
Enrique Lores, CEO of HP Inc., jumped from frying pan to the fire, taking over as CEO of PayPal. Lores has also been board chair of PayPal, taking over from Donahoe in 2024.
It’s no secret what’s ailing PayPal. The online payments innovator has become the AOL of the digital payments world, overtaken by faster-moving operations like Apple Pay. PayPal’s hiring of Chriss was an attempt to regain its mojo. When it named him to the job in September 2023, chair John Donahoe said he was “the perfect leader to take PayPal forward and accelerate the company’s growth opportunities.”
Today
In a statement, the board explained its replacement of Chriss by saying that after a “detailed evaluation” of PayPal’s position in the market, “the pace of change and execution was not in line with the board’s expectations.”
Enrique Lores, CEO of HP Inc., jumped from frying pan to the fire, taking over as CEO of PayPal. Lores has also been board chair of PayPal, taking over from Donahoe in 2024.