PayPal Finds New CEO - Intuit's Alex Chriss to Take the Helm, Bringing Strong Small Business Experience

PayPal Holdings, Inc PYPL tapped Intuit Inc's INTU Alex Chriss as CEO, effective September 27, 2023. Chriss will also join the Board on that date.

The appointment follows a thorough CEO search process conducted by the Board over the last few months.

Chriss, since January 2019, has served as Executive Vice President and General Manager of Intuit's Small Business and Self-Employed Group, responsible for more than half of Intuit's revenue. 

Chriss currently serves on Intuit's executive leadership team and has led a global organization that delivered QuickBooks and Mailchimp to millions of users worldwide. Chriss joined Intuit 19 years ago.

In February, Dan Schulman shared his plans to retire as CEO at year-end. Schulman will remain on the company board until its next annual meeting of stockholders in May 2024.

PayPal granted $22.0 million to Schulman as pay for FY22, down from $32.1 million a year ago.

Last week, PayPal's Chief Strategy, Growth, And Data Officer, Jonathan Auerbach, stepped down.

Price Action: PYPL shares traded higher by 1.59% at $62.52 on the last check Monday.