PayPal’s New CEO Announced After Q4 Results Released

In a statement released about PayPal’s Q4 and full fiscal year results, Jamie Miller, Interim CEO for the payments giant, states the company has delivered a solid performance. 

However, the company note that Branded checkout has “not been where it needs to be” according to Jamie.

Top results include the increase of PayPal net revenue by 4% to $US33.2bn and total payment volume (TPV) seeing a 7% YoY growth to close to US$1.8bn.

The Board has also commented on the direction of the company as it welcomes Enrique as the company's new CEO.

Who is PayPal’s new CEO?

Enrique Lores has served on the Board for PayPal for five years, having been Board Chair since July 2024. He succeeds Alex Chriss as of 1st March 2026. 

Previously, Enrique served as President and CEO of HP inc, leading the company successfully through a period of transition and innovation. 

He also built and led the HP/ HPE separation, which strengthened operating discipline concurrent with simplifying cost structure and positioning the company for long-term innovation. 

At HP, Enrique expanded HP’s offerings beyond its traditional roots of PC and printing. The company saw the emergence of services, subscriptions, future-of-work solutions and AI-enabled offerings as a result. 

Commenting on 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. 

“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.”

How is PayPal supporting the change? 

PayPal’s Chief Financial and Operating Officer, Jamie Miller, has been appointed Interim CEO to ensure a seamless transition between Alex and Enrique. 

“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," says Jamie. 

“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.

“We are fully aligned on the path forward as PayPal enters its next chapter of growth.”

An Independent Board Chair, David W. Dorman, has been appointed to replace Enrique effective immediately. 

Enrique’s appointment comes on the back of a detailed analysis from the Board of Directors with regards to the wider industry landscape and PayPal’s overall position in it. 

The company state that the pace of change and execution is “not in line” with the Board’s expectations. 

Enrique’s experience in technology and commercial sectors spans over three decades, and will support PayPal’s next chapter. 

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

“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. 

“I look forward to continuing to work with the Board and supporting Enrique as he takes on the CEO role.”

Outgoing: How much Alex Chriss grew PayPal 

Over two and a half years, Alex Chriss saw PayPal expand in its BNPL sector, in addition to the monetisation of Venmo.

The Board thanked him for his contributions as he made progress with the modernisation of PayPal.

Alex states: "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.”