Overview
- Enrique Lores, a longtime PayPal director and its chair since mid-2024, will become CEO on March 1, succeeding Alex Chriss.
- CFO/COO Jamie Miller will serve as interim CEO until Lores takes over, and David W. Dorman was installed as independent board chair effective immediately.
- PayPal said the pace of change and execution had not met board expectations and positioned Lores to drive the company’s next phase.
- The announcement accompanied 2025 net income of $5.233 billion, up 26% year over year, but softer Q1 2026 and full-year EPS guidance that sent shares down more than 17% in pre-market trading.
- Lores resigned as HP’s chief executive, after which HP named Bruce Broussard interim CEO and launched a formal search for a permanent successor.