PayPal hires HP’s Enrique Lores as its new CEO

16 hours ago 1

Ivan Mehta

Tue, February 3, 2026 astatine 8:15 AM CST 1 min read

<span class="caption">Enrique Lores</span>

PayPal said connected Tuesday it is hiring HP’s Enrique Lores arsenic its CEO and President, replacing existent main executive, Alex Chriss. Lores, who has been the seat of PayPal’s committee since July 2024, volition besides instrumentality up the relation of president.

PayPal said the assignment was made due to the fact that company’s gait of alteration and execution was “not successful enactment with the Board’s expectations” fixed broader marketplace trends.

Chriss joined PayPal successful September 2023 from Ituit, succeeding Dan Schulman. PayPal’s CFO and COO, Jamie Miller, volition instrumentality implicit arsenic interim CEO until Lores joins the company.

The assignment comes arsenic PayPal connected Tuesday reported lower-than-expected gross and nett successful the 4th quarter, arsenic user spending dipped amid a broader outgo of surviving situation and a softening labour market. The institution besides forecast a dip successful its full-year profit, which amazed investors, arsenic Wall Street had broadly expected the institution to forecast maturation instead.

PayPal’s shares were down astir 17.9% successful premarket trading connected Tuesday.

Lores, who served arsenic President and CEO of HP for implicit six years, said that isolated from merchandise innovation, PayPal volition clasp itself accountable for delivering quarterly accounts.

“The payments manufacture is changing faster than ever, driven by caller technologies, evolving regulations, an progressively competitory landscape, and the accelerated acceleration of AI that is reshaping commerce daily. PayPal sits astatine the halfway of this change, and I look guardant to starring the squad to accelerate the transportation of caller innovations and to signifier the aboriginal of integer payments and commerce,” Lores said successful a statement.