Enrique Lores took over as chief executive of PayPal on 1 March 2026, succeeding Alex Chriss, whose removal the board announced on 3 February. The company's board said that, while some progress had been made over the last two years, the pace of change and execution had not been in line with its expectations.
Lores arrives as a familiar face at PayPal: the former HP Inc. chief executive has sat on PayPal's board of directors since 2021 and was its chair from July 2024 until February 2026.
PayPal said in a statement that the transition was effective on 1 March 2026. The leadership change was announced alongside fourth-quarter results and a 2026 profit forecast, which sent PayPal's shares down nearly 20%.
During the period between the board's announcement and Lores's formal start date on 1 March, chief financial and operating officer Jamie Miller served as interim chief executive.
LORES'S BACKGROUND
Lores stepped down as HP Inc.'s chief executive before taking the PayPal role.