How PayPal is Resetting its Leadership With A New CEO

PayPal has named Enrique Lores as President and CEO effective 1 March 2026, aligning a leadership shift with full year results that mixed steady growth with delivery challenges.

Interim CEO Jamie Miller acknowledged progress but conceded branded checkout has not been where it needs to be. 

In 2025, PayPal grew net revenue 4% to US$33.2bn, with total payment volume up 7% year on year to nearly US$1.8bn.

The Board concluded that this pace of change and execution is not in line with expectations as it transitions from Alex Chriss to Enrique.

Enrique Lores' financial leadership

Enrique has served on PayPal’s Board for five years and chaired it since July 2024.

He most recently led HP Inc for six years as CEO, managing the company's expansion into services, subscriptions, future-of-work solutions and AI-enabled offerings. 

Discussing his appointment, Enrique says: "We will further strengthen the culture of innovation necessary to deliver long-term transformation and balance this with near-term delivery, executing with greater speed and precision, and holding ourselves accountable for consistent delivery quarter on quarter, to further assert PayPal's industry leadership position."

He adds: "PayPal sits at the centre 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."

A leadership transition

To secure continuity across product, risk and financial operations, the Board appointed Jamie Miller, Chief Financial and Operating Officer, as Interim CEO to oversee the handover from Alex to Enrique.

Jamie says: "In 2025, PayPal delivered solid performance across multiple areas of the business. We grew revenue, transaction margin dollars, and earnings per share, underscoring the strength of our increasingly diversified platform.

"At the same time, our execution has not been where it needs to be, particularly in branded checkout. As announced today, the Board’s appointment of Enrique Lores as PayPal’s next President and CEO reflects a clear commitment to strengthening execution, innovation, and results."

Board oversight and governance Alongside the CEO change, PayPal has separated the chair role to strengthen governance. David W. Dorman has been appointed Independent Board Chair with immediate effect, succeeding Enrique as chair to ensure clear lines between oversight and management.

David notes: "Enrique is widely recognised as a visionary leader who prioritises customer-centric innovation with demonstrable impact."

The Board shares that Enrique’s three decades across technology and commercial roles position him to meet the demands of a fast-moving payments market and improve operating speed. That assessment follows detailed analysis of the competitive landscape and PayPal’s execution gaps.

It also thanks Alex Chriss outgoing President and CEO, for his leadership through a complicated period for consumer spending and fintech competition. Over two and a half years, he played a key role in expanding PayPal's Buy Now, Pay Later (BNPL) capabilities, and progressed the businesses monetisation of Venmo. 

Alex says: "I am proud to have had the opportunity to lead such a great company and work with such a talented team."

He adds: "Now is the right time to make a transition to a seasoned leader who can take the company through its next phase of transformation."