PayPal has a new CEO: Alex Chriss will replace Dan Schulman

As of next September 27, PayPal will have a new CEO. So, Alex Chriss will replace Dan Schulman, the head of the company, as confirmed by its board of directors. Chriss is currently the CEO of Intuit’s Small Business and Freelance Group, a company he has worked for for 19 years.

This change, although it may seem like it, does not come as a surprise, since Schulman himself had announced some time ago the implementation of a plan for his resignation from the position he occupies before the end of this year. In fact, he had notified the company’s management of his intention to retire last December.

Ultimately, he will leave at the end of September, but he will not leave the company immediately. He will remain one of its directors until May 2024. Then the company’s next shareholders’ meeting will take place.

Chosen from among nine possible candidates for the position, Chriss stressed that he is “delighted to have the opportunity to work with PayPal’s committed and talented team to build on the company’s remarkable history and leverage its unique capabilities to deliver outstanding products and services to businesses and consumers«.

For his part, Schulman, who became PayPal’s CEO after its spin-off from eBay in 2015has stressed that it is «proud of what we’ve accomplished at PayPal and the incredibly talented and committed people I work with every day. Together, we have reinvented financial services and e-commerce, and have worked to improve the financial health of our clients.«.

The selection process for a new CEO for the company began last February. Chriss impressed PayPal’s board of directors with his leadership at Intuit, particularly in the aftermath of the purchase of popular email marketing tool Mailchimp, for which he paid $12 billion.

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