PayPal’s New CEO Outlines Performance Enhancement Plans

Following a decision by PayPal’s Board of Directors to appoint Enrique Lores  as President and CEO, he has officially moved into the role from 1 March 2026.

Enrique has served on the PayPal Board for almost five years and as Board Chair since July 2024. He succeeds previous President and CEO Alex Chriss.

Jamie Miller, Chief Financial and Operating Officer, acted as Interim CEO until Enrique assumed the role. She has since resumed her original position.

In another leadership reshuffle at PayPal, the Board also appointed David W. Dorman as Independent Board Chair.

Discussing his transition to the role of CEO, Enrique says: “As a member of PayPal’s Board of Directors for the last five years, I’ve had a front-row seat to PayPal’s strengths: our global scale, trusted brand, powerful two-sided platform of consumers and merchants and most importantly, our people.

“We have significant strengths, but we have not executed to our full potential. Now is the time to turn those strengths into sharper focus, and stronger, more consistent results.”​

PayPal has previously said that Enrique’s appointment is designed to accelerate its performance in line with industry competition, following an evaluation conducted by the Board of Directors.

Changing strategies at PayPal

Before becoming PayPal’s CEO, Enrique spent more than six years as CEO of HP.

During this time, he led the company through a period of strategic transition and innovation, expanding the company from its origins as a PC and printing brand, into a versatile company offering subscriptions services and AI-enabled technologies.

Enrique acknowledges the fast-moving environment of the financial market and that success requires clear priorities, disciplined execution and innovation that improves the customer experience.

Discussing Paypal’s business strengths and growth potential, Enrique says: "I think PayPal has a great future. We need to improve execution and make more progress in the initiatives that we have in place. And this is going to be my goal going into the next year.”

Following Alex’s departure as President and CEO, PayPal points to several of his key contributions to the growth of the business under his tenure, including his role in the monetisation of Venmo and modernising of the PayPal platform.

Alex says: “Now is the right time to make a transition to a seasoned leader who can take the company through its next phase of transformation. 

“I have enjoyed a great working relationship with Enrique, and I am certain he is the right person to meet that challenge.”

Leadership and long-term success

Despite PayPal’s 20% stock value fall in February, the company remains optimistic over Enrique's direction, citing his leadership at HP, where he previously delivered six consecutive quarters of revenue growth.

During his time at HP, Enrique was the architect behind the separation of HP and HPE, a decision made to improve business agility in the rapidly-changing personal computing market. 

Enrique helped enhance both companies’ operation disciplines, simplify the cost structure and position the company for long-term innovation.

“The payments industry is changing faster than ever, driven by new technologies, evolving regulations, an increasingly competitive landscape, and the rapid acceleration of AI that is reshaping commerce daily," Enrique says.

“Over the coming weeks, I look forward to spending time with customers, partners, and teams globally. ​Listening and learning will be essential as we move forward.”