- Enrique CEO leaves his position as CEO of HP and immediately becomes CEO of PayPal
- Alex Chriss leaves PayPal after two and a half years as leader
- HP is now looking for a new CEO
HP CEO Enrique Lores has resigned from his position at the company and will move to PayPal effective March 1, 2026.
Lores will replace Alex Chriss at PayPal, who has been in the role for just over two and a half years.
While the move may come as a surprise, Lores already had ties to the fintech company and was a PayPal board member for nearly five years.
Enrique Lores moves from HP to PayPal
In a statement, the board explained that the leadership change was due to concerns that PayPal’s “pace of change and execution was not in line with [its] expectations.”
Lores has previously been responsible for leading major changes at HP, where he steered the company in the services and subscriptions direction.
“It has been an honor to lead HP in its evolution into an AI-powered technology company that is redefining workplace solutions and connecting with customers globally,” Lores said in an HP statement.
“The payments industry is changing faster than ever, driven by new technologies, evolving regulations, an increasingly competitive landscape, and the rapid acceleration of AI that is reshaping commerce every day,” he explained, speaking on behalf of PayPal, promising to “accelerate the delivery of new innovations.”
On the HP side, board member Bruce Broussard has been named interim CEO effective immediately while the company searches for a new leader.
“Now is the right time to transition to an experienced leader who can lead the company through its next phase of transformation,” added Chriss, former CEO of PayPal. It’s unclear where Chriss is headed after this role.
Since PayPal has already recently made some changes to its products, including relaunching in the UK with new services, we can expect big things in the future.
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