PayPal removes CEO Alex Chriss and names ex-HP chief Enrique Lores CEO

PayPal's board replaced Alex Chriss as president and CEO, citing a pace of change and execution that was not in line with its expectations. Former HP CEO Enrique Lores, who had been the board chair, was named CEO effective March 1, 2026, and CFO and COO Jamie Miller became interim CEO. David Dorman was appointed independent board chair; Chriss also left the board. The leadership change came on the same day as the weak Q4 results and outlook.

• Chriss ceased to serve as CEO and left the board effective February 2, 2026
• Lores's offer letter, dated February 2, sets a base salary of $1,450,000 and a 200% target bonus
• Jamie Miller named interim CEO; received a $3,000,000 cash retention award vesting in 2027 and 2028
• David W. Dorman appointed independent board chair; Lores stepped down as chair