PayPal announced that its Board of Directors has appointed Enrique Lores as President and CEO, effective March 1, 2026. Lores, who has served on the PayPal Board for nearly five years and as Board Chair since July 2024, will succeed Alex Chriss. To ensure a seamless transition, Jamie Miller, Chief Financial and Operating Officer, will serve as Interim CEO until Lores assumes the role. David W. Dorman has been appointed as Independent Board Chair, effective immediately.
The appointments follow a detailed evaluation by the Board of Directors on PayPal’s position relative to competitors and the broader industry landscape. Over the last two years, the company made progress in several areas, but the pace of change and execution did not meet the Board’s expectations. The Board expressed confidence that Lores, with more than three decades of technology and commercial experience, will provide the leadership needed for PayPal’s next chapter.
Lores is recognized for prioritizing customer-centric innovation and leading complex transformations with disciplined execution on a global scale. He joins PayPal after serving more than six years as President and CEO of HP Inc. There, he guided the company through a strategic transition, expanding beyond traditional PC and printing into services, subscriptions, and future-of-work solutions, including AI-enabled offerings. Lores also architected and built on the HP/HPE separation, which strengthened operating discipline, simplified the cost structure, and positioned HP Inc. for long-term innovation.
The Board plans to strengthen PayPal’s culture of innovation to deliver long-term transformation while balancing it with near-term execution. This includes greater speed and precision in delivering new products and holding the company accountable for consistent quarterly performance to maintain its leadership in the payments industry.
“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.
The Board believes PayPal’s long-term success rests on its global scale, data assets, and strong consumer, merchant, and partner relationships. These are enhanced by the company’s two-sided platform, operational rigor, risk management capabilities, and developer experience.
“I look forward to continuing to work with the Board and supporting Enrique as he takes on the CEO role,” a Board statement noted.
The Board thanked Alex Chriss for his contributions over the past two and a half years. During his tenure, Chriss monetized Venmo, grew the buy now, pay later (BNPL) business, and advanced modernization of the PayPal platform with a customer-first approach.
Chriss stated: “I am proud to have had the opportunity to lead such a great company and work with such a talented team. Now is the right time to make a transition to a seasoned leader who can take the company through its next phase of transformation. I have enjoyed a great working relationship with Enrique, and I am certain he is the right person to meet that challenge.”
