PayPal names Enrique Lores CEO to accelerate AI commerce
PayPal Holdings announced Enrique Lores as President and CEO, effective March 1, 2026, succeeding Alex Chriss after a board evaluation of the company’s competitive position and industry landscape. Jamie Miller, Chief Financial and Operating Officer, will serve as Interim CEO. David W. Dorman becomes Independent Board Chair immediately.
Enrique Lores has served on PayPal’s Board of Directors for nearly five years. He assumed the role of Board Chair in July 2024. This internal promotion positions him to lead the company full-time starting next year. The board selected Lores based on his familiarity with PayPal’s operations and strategic direction.
The appointment stems from a detailed evaluation by the Board of Directors. This review examined PayPal’s current position relative to competitors and the broader industry landscape. Over the last two years, the company achieved progress in several areas. However, the pace of change and execution did not align with board expectations.
The board expressed confidence in Lores’ ability to guide PayPal into its next chapter. Lores brings more than three decades of technology and commercial experience. He is recognized as a visionary leader who prioritizes customer-centric innovation. His track record includes leading complex transformations and maintaining disciplined execution on a global basis.
David W. Dorman stated, “I look forward to continuing to work with the Board and supporting Enrique as he takes on the CEO role.” Dorman’s immediate appointment as Independent Board Chair ensures continuity in governance during the leadership transition.
Prior to this role, Lores served as President and CEO of HP Inc. for more than six years. During his tenure, he led the company through a strategic transition and period of innovation. HP Inc. expanded beyond its traditional PC and printing roots. The company grew into services, subscriptions, and emerging future-of-work solutions. These included AI-enabled offerings.
Lores acted as the lead architect of the HP/HPE separation. He built upon this separation to strengthen operating discipline. He simplified the cost structure. These efforts positioned HP Inc. for long-term innovation.
PayPal plans to strengthen its culture of innovation. This will support long-term transformation. The company aims to balance this with near-term delivery. Execution will occur with greater speed and precision. PayPal will hold itself accountable for consistent delivery each quarter. These steps aim to assert the company’s industry leadership position.
Enrique Lores said, “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.”
The Board of Directors holds a fundamental belief about PayPal’s long-term success. This success rests on the company’s global scale. It depends on its data assets. Strong consumer, merchant, and partner relationships form a core foundation. Rapid, high-quality execution completes this base.
In an increasingly competitive landscape, PayPal delivers value through its two-sided platform. Operational rigor supports this delivery. Risk capabilities enhance reliability. Developer experience facilitates integration and growth.
The board thanked Alex Chriss for his contributions over the past two and a half years. Chriss played a key role in monetizing Venmo. He oversaw growth in the buy now, pay later (BNPL) business. He advanced modernization of the PayPal platform. Throughout his tenure, Chriss maintained a customer-first mindset.
Alex Chriss commented, “I am proud to have had the opportunity to lead such a great company and work with such a talented team. 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.”
Jamie Miller’s role as Interim CEO bridges the gap from Chriss’s departure to Lores’ start date. Miller’s position as Chief Financial and Operating Officer equips her to oversee financial stability and operations during this period. The structured transition minimizes disruptions to ongoing initiatives.