PayPal Holdings, Inc. (Nasdaq: PYPL) tipped its hat to its new president and CEO, Alex Chriss, who will take office and join the board on 27 September 2023. This appointment follows in the wake of a thorough search over several months.
PayPal names its new President and CEO
Taxed with leading the company into the future and managing its infrastructure of extensive global payments, the successful candidate had to have a wide experience of technology and leadership skills to drive growth across the entire PayPal scope.
Chriss ticked all the key metric boxes and received unanimous backing from the board and CEO search committee. As Inuit’s executive Vice President and General Manager, Chriss garnered the leadership and technological know-how to captain PayPal. During his time at Inuit’s small business and self-employed group, he led the $12bn acquisition of Mailchimp in 2021.
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The position became available after Dan Schulman, the current PayPal CEO, announced his plans to retire at the end of the year in February 2023. He will however remain on the PayPal board until the next shareholders meeting in May 2024.
Alex Chriss Source: PayPal
PayPal made news in January of this year when it cut approximately 7% of its total labour force due to macroeconomic challenges. In a PayPal press release, Chriss stated:
PayPal is an extraordinary company that plays a critical role in the lives of consumers and merchants all over the world. Throughout my career, I have championed small and medium businesses and entrepreneurs, who are the backbone of every economy in the world. I am proud to take the baton from Dan and thrilled to have the opportunity to work with PayPal’s talented and committed team to build on PayPal’s remarkable history and draw on its unique capabilities to deliver outstanding products and services to businesses and consumers.
