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Key takeaways
- Alex Chriss has been appointed PayPal’s new CEO from the end of September
- Chriss faces a tough job as PayPal has lost key execs, laid off thousands and is on the cusp of launching a new stablecoin
- The stock rose nearly 3% at the news, but PayPal’s share price has declined 15% since the start of the year
PayPal is bringing in fresh blood for the top job. Alex Chriss, who has had a successful run at Intuit, will take the reins from Dan Schulman at the end of September. PayPal has been on the hunt for a new CEO since Schulman first announced his retirement plans earlier this year.
Chriss has a big task ahead of him as the stock continues to decline while other tech companies have thrived in 2023. If it can pull it off, launching PayPal’s new stablecoin might be the fintech’s saving grace. Here’s everything you need to know.
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