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PayPal Appoints New CEO Amid 17% Share Drop

2/4/2026

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Summary

Story summary

On February 3, 2026, PayPal Holdings, Inc. announced Enrique Lores, the former Hewlett-Packard (HP) chief executive, will become president and chief executive officer, effective March 1, replacing Alex Chriss, who was ousted for underperformance.
PayPal's shares fell over 17% after the announcement.
Lores was reportedly unaware of the appointment until recently, prompting HP to initiate a replacement search.

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Story summary

On February 3, 2026, PayPal Holdings, Inc. announced Enrique Lores, the former Hewlett-Packard (HP) chief executive, will become president and chief executive officer, effective March 1, replacing Alex Chriss, who was ousted for underperformance.
PayPal's shares fell over 17% after the announcement.
Lores was reportedly unaware of the appointment until recently, prompting HP to initiate a replacement search.