PayPal Replaces CEO Chriss with HP's Lores

Lores to take over as PayPal CEO on March 1 as company looks to accelerate innovation and growth.

Feb. 3, 2026 at 12:47pm

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PayPal is replacing CEO Alex Chriss with Enrique Lores, the current board chair, citing the need for faster change and execution at the company. Lores, who has served on PayPal's board for nearly five years and previously was president and CEO of HP Inc., will take over as PayPal's new chief executive on March 1. PayPal also reported weaker-than-expected Q4 results and forecast lower profits for the current quarter, sending its shares down 16% in premarket trading.

Why it matters

The leadership change at PayPal comes as the payments industry faces rapid technological change, increased competition, and the growing influence of AI in commerce. Lores' experience leading HP through a major transformation could help guide PayPal as it looks to accelerate innovation and growth in this dynamic environment.

The details

PayPal's board said the pace of change and execution at the company has not met expectations over the past two years under CEO Alex Chriss. Enrique Lores, who has served on PayPal's board since 2018 and as board chair since 2024, will take over as CEO on March 1. Lores previously spent over six years as president and CEO of HP Inc. PayPal also reported weaker-than-expected Q4 results, with adjusted earnings of $1.23 per share on revenue of $8.68 billion, missing analyst estimates. The company also forecast lower profits for the current quarter, sending its shares down 16% in premarket trading.

  • PayPal reported its Q4 2025 results on February 3, 2026.
  • Enrique Lores will take over as PayPal CEO on March 1, 2026.

The players

Enrique Lores

The incoming CEO of PayPal, who has served on the company's board since 2018 and as board chair since 2024. Lores previously spent over six years as president and CEO of HP Inc.

Alex Chriss

The outgoing CEO of PayPal, who is being replaced by Enrique Lores.

PayPal

The digital payments company that is replacing its CEO as it looks to accelerate innovation and growth.

HP Inc.

The technology company that Enrique Lores previously served as president and CEO of for over six years.

Jamie Miller

PayPal's Chief Financial and Operating Officer, who will serve as interim CEO until Lores assumes the position.

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What they’re saying

“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. PayPal sits at the center of this change, and I look forward to leading the team to accelerate the delivery of new innovations and to shape the future of digital payments and commerce.”

— Enrique Lores, Incoming CEO, PayPal (wbal.com)

What’s next

Lores will officially take over as PayPal's new CEO on March 1, 2026.

The takeaway

The leadership change at PayPal reflects the company's need to adapt to rapid industry changes driven by new technologies, regulations, and competition. Lores' experience leading HP through a major transformation could help guide PayPal as it looks to accelerate innovation and growth in this dynamic environment.