HP CEO Enrique Lores steps down to join PayPal as new chief

PayPal Shakes Up Leadership: HP CEO Enrique Lores Takes the Helm as Alex Chriss Departs Amid Investor Skepticism

In a surprising and high-stakes executive shuffle, PayPal has announced that Enrique Lores, the longtime CEO of HP, will replace Alex Chriss as the company’s president and chief executive officer. The move comes after less than three years in the role for Chriss, whose tenure was marked by mounting pressure to accelerate growth and innovation in an increasingly competitive fintech landscape.

PayPal’s board cited a mismatch between the pace of change under Chriss and its expectations, stating that the company needed a leader capable of steering it through rapid technological shifts, evolving regulations, and fierce competition. Lores, who has served on PayPal’s board since 2019 and as board chair since July 2024, is expected to bring both strategic vision and operational expertise to the role.

A Sudden Departure That Blindsided HP

The transition has sent shockwaves through the tech industry, particularly at HP, where Lores’ departure was reportedly unexpected. According to reports from Semafor, HP’s board was caught off guard by PayPal’s aggressive recruitment of their CEO. Lores, who joined HP as an intern nearly four decades ago, played a pivotal role in the company’s split from HP Enterprise and led the PC and printing giant through a challenging post-pandemic era.

HP has appointed Bruce Broussard, a board member since 2021 and former CEO of Humana, as interim CEO while it searches for a permanent successor. The sudden leadership vacuum has left HP executives scrambling to stabilize the company and reassure stakeholders.

Investor Confidence Takes a Hit

The leadership change comes at a precarious time for PayPal. The company recently reported fourth-quarter earnings for 2025, revealing $8.68 billion in revenue—slightly above last year’s figures but below analyst expectations. The news, coupled with Chriss’ abrupt departure, triggered a sharp 20% drop in PayPal’s stock price. Over the past five years, the company’s shares have plummeted more than 80%, reflecting broader challenges in the fintech sector.

A New Chapter for PayPal

Lores inherits a company at a critical juncture. The payments industry is undergoing rapid transformation, driven by advancements in artificial intelligence, changing consumer behaviors, and intensifying competition from both established tech giants and nimble fintech startups. In his statement, Lores emphasized the need to balance long-term innovation with short-term execution, signaling a potential shift in PayPal’s strategic priorities.

“PayPal is at an inflection point,” Lores said. “The payments industry is changing faster than ever, and we must act decisively to maintain our leadership position.”

Chriss’ Short-Lived Tenure

Alex Chriss was brought on board in 2023 as a “next-generation leader” capable of driving growth during a challenging post-pandemic period. However, his tenure was marred by missed revenue targets, sluggish user growth, and mounting pressure from investors. Despite his efforts to streamline operations and expand PayPal’s product offerings, the company struggled to regain its footing in a crowded and fast-evolving market.

What’s Next for PayPal?

As Lores prepares to take the reins, all eyes will be on his ability to execute a turnaround strategy. Industry analysts are particularly interested in how he will leverage his experience at HP to address PayPal’s operational inefficiencies and reignite growth. Key areas of focus are likely to include enhancing the company’s AI capabilities, expanding its global footprint, and strengthening its competitive position against rivals like Stripe, Square, and Apple Pay.

Conclusion

The appointment of Enrique Lores as PayPal’s new CEO marks a bold and unexpected move in the tech world. With HP left reeling and PayPal’s investors demanding swift results, Lores faces a daunting challenge. Whether he can replicate his success at HP and steer PayPal through its current turbulence remains to be seen. One thing is certain: the payments industry will be watching closely as this high-stakes leadership transition unfolds.

Tags: PayPal CEO change, Enrique Lores, Alex Chriss departure, HP leadership shakeup, fintech industry news, PayPal stock drop, executive shuffle, tech industry leadership, PayPal turnaround strategy, AI in payments, fintech competition, HP interim CEO, Bruce Broussard, Silicon Valley executive moves, PayPal revenue miss, investor confidence, payments industry transformation, next-gen fintech leaders, PayPal board changes, tech CEO transitions.

Viral Sentences:

• “PayPal’s board just pulled off a corporate heist, poaching HP’s CEO in a move that blindsided the tech world.”
• “Enrique Lores goes from printing pages to processing payments—can he rewrite PayPal’s future?”
• “Alex Chriss’ 2.5-year tenure ends in a stock market nosedive—was it a leadership fail or just bad timing?”
• “HP’s board is scrambling after their CEO got lured away by PayPal—corporate drama at its finest.”
• “PayPal’s 80% stock drop over five years? Enrique Lores has his work cut out for him.”
• “The payments industry is changing faster than ever—can Lores keep PayPal ahead of the curve?”
• “From intern to CEO of HP, now to the top of PayPal—Enrique Lores’ career is the ultimate tech fairytale.”
• “PayPal’s new CEO is a boardroom veteran—but will his HP playbook work in the fintech arena?”
• “Bruce Broussard steps in as HP’s interim CEO—can he steady the ship after Lores’ sudden exit?”
• “The fintech wars are heating up, and PayPal’s leadership change is just the latest battlefield move.”

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