Enrique Lores appointed CEO of PayPal

PayPal has named Enrique Lores as its new President and Chief Executive Officer, with the appointment taking effect from March 1, 2026. He will take over from Alex Chriss, who is stepping down from the role.

Lores has been closely associated with PayPal for several years, having served on its Board for nearly five years and as Board Chair since July 2024. To manage the transition smoothly, Jamie Miller, PayPal’s Chief Financial and Operating Officer, will act as Interim CEO until Lores officially takes charge. Meanwhile, David W. Dorman has been appointed Independent Chair of the Board, effective immediately.

The leadership change comes after the Board reviewed PayPal’s progress and its position in a fast-changing and highly competitive payments industry. While the company has made improvements in recent years, the Board felt the speed of execution did not fully meet expectations. They believe Lores’ deep industry knowledge and leadership experience will help steer PayPal into its next phase of growth.

Dorman said that Lores is known for driving customer-focused innovation and leading large-scale transformations. He added that Lores’ global experience and disciplined approach make him well suited to guide PayPal through the future of digital payments.

Before joining PayPal, Lores spent more than six years as President and CEO of HP Inc. During his tenure, he led major changes that expanded HP beyond its traditional PC and printing businesses into services, subscriptions and future-of-work solutions, including AI-driven offerings. He also played a key role in strengthening operations and preparing the company for long-term innovation.

Commenting on his new role, Lores said the payments industry is evolving rapidly due to technology advances, changing regulations, rising competition and the growing influence of AI. He added that PayPal is well positioned to lead this change and that his focus will be on faster execution, consistent delivery and building a strong culture of innovation.

The Board reiterated its confidence in PayPal’s long-term strengths, including its global reach, strong data capabilities, and deep relationships with consumers, merchants and partners. It believes these advantages, combined with disciplined execution and a strong platform, will help the company stand out in an increasingly crowded market.

The Board also thanked Alex Chriss for his contributions over the past two and a half years. During his tenure, he helped grow areas such as Venmo and Buy Now, Pay Later, while keeping a strong focus on customers and modernising the platform.

Chriss said he is proud to have led PayPal and believes this is the right moment for a leadership transition. He expressed confidence in Lores’ ability to guide the company through its next stage of transformation.