1 of 1
Story summary
- PayPal CEO Enrique Lores announced Venmo will become a standalone segment.
- Lores said reporting lines will be reorganized to separate Venmo from other operations.
- The restructure will also launch a PayPal-branded business for merchants and consumers and a payment services unit that includes Braintree and crypto.
- PayPal will hire a digital-banking executive to lead Venmo, a step Lores expects will spur growth after the stock fell 80% under Alex Chriss.
