PayPal Appoints Alex Chriss as Next President and CEO
In a recent announcement, PayPal Holdings, Inc. (NASDAQ: PYPL) revealed the appointment of Alex Chriss as its upcoming President and CEO, starting September 27, 2023. This strategic move follows an extensive search process aimed at identifying a dynamic leader with a strong background in global payments, technology, and product development. Chriss will also assume a position on PayPal's Board of Directors.
Alex Chriss brings a wealth of experience to his new role, having served as the Executive Vice President and General Manager of Intuit's Small Business and Self-Employed Group since January 2019. During his tenure, Chriss led a global team that successfully delivered popular products like QuickBooks and Mailchimp to millions of users around the world. His leadership has been marked by consistent growth, as evidenced by a remarkable compound annual growth rate of 20% and 23% in customers and revenues, respectively, within the Small Business segment over the past five years. Notably, Chriss played a pivotal role in Intuit's strategic acquisition of Mailchimp, a move that significantly expanded the company's platform and customer base.
Chriss has held various leadership positions at Intuit over the course of 19 years, including driving the creation of Intuit's Partner & Developer Platform, leading the Self-Employed Solutions team, and serving as Chief Product Officer for the Small Business Group. Throughout these roles, he initiated strategic initiatives that transformed Intuit's businesses into thriving growth engines.
John Donahoe, Chair of the PayPal Board of Directors, expressed confidence in Chris's ability to steer PayPal's growth and expansion. He noted Chriss's extensive product development experience, customer-centric approach, and commitment to empowering small businesses. Donahoe further commended the diligent efforts of the Board's search committee in identifying a leader capable of propelling PayPal's evolution.
The transition in leadership marks the end of Dan Schulman's tenure as CEO. Schulman's contributions over the past eight years have been instrumental in shaping PayPal's journey as an independent company. He will continue to serve on the company's board until the next annual meeting of stockholders in May 2024.
Chriss, as the incoming President and CEO, expressed his enthusiasm for joining PayPal and leading its talented team. He emphasized his dedication to building upon PayPal‘s rich history and leveraging its unique capabilities to deliver exceptional products and services to businesses and consumers worldwide.
PayPal, a pioneering force in the digital payment landscape for over two decades, remains committed to enhancing financial services and commerce. Its platform has empowered millions of consumers and merchants across more than 200 markets, contributing to the global economy's growth and connectivity.
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