PayPal names Enrique Lores as chief executive in leadership overhaul

PayPal has appointed Enrique Lores as president and chief executive, effective 1 March, as part of a leadership reshuffle aimed at accelerating transformation at the digital payments group.

David Dorman, who has been named independent board chair with immediate effect, said the company had made some progress over the past two years but added that the pace of change and execution had not met the board’s expectations.

Lores, a PayPal board member since 2019 and chair since July 2024, will succeed Alex Chriss. Jamie Miller, chief financial and operating officer, will act as interim chief executive until Lores takes over.

“Enrique is widely recognised as a visionary leader who prioritises customer-centric innovation with demonstrable impact,” said Dorman. “His strong track record leading complex transformations and disciplined execution on a global basis will ensure PayPal maintains its leadership of the dynamic payments industry now and into the future.”

Lores joins PayPal from HP Inc., where he served as president and chief executive for more than six years. The company said he led the firm’s strategic transition and expansion into services, subscriptions and artificial intelligence-enabled products.

“We will further strengthen the culture of innovation necessary to deliver long-term transformation and balance this with near-term delivery,” Lores said. “Executing with greater speed and precision, and holding ourselves accountable for consistent delivery quarter on quarter, will further assert PayPal's industry leadership position.”

The board thanked Chriss for his contributions over the past two and a half years. “I am proud to have had the opportunity to lead such a great company and work with such a talented team,” said Chriss.