PayPal is a digital payment platform company that is popular in western countries, and at one time had a business in Malaysia as well. Recently, it was reported that Alex Chriss, the company's CEO, will resign and be replaced by HP CEO, Enrique Lores.
Alex Chriss was appointed as PayPal CEO in 2023, replacing Dan Schulman and is seen to have improved a number of processes in the company, but unfortunately did not achieve the desired level of profitability and agreed upon with the company's shareholders.
After the announcement of the company's earnings was made, PayPal's shares were seen to fall 19 percent, a decline that was seen to be quite sudden because it did not meet analyst targets.
Enrique Lores was chosen as the new CEO because he was seen to have successfully led HP through several critical eras for the company, such as the COVID-19 pandemic and also throughout last year when the US president imposed tariffs on imported goods from China which forced the company to make many drastic changes such as moving production from China to other countries.
Alex Chriss' termination is effective immediately, and will be assumed by Jamie Miller, the company's Chief Operating Officer for a month until Enrique Lores joins the company in March 2026.
