PayPal, the global leader in digital payments, has announced a major leadership transition with the appointment of Enrique Lores as its new President and CEO. The news comes alongside the company’s release of its Q4 and full fiscal year results, where the company reported solid performance despite acknowledging challenges in certain areas of its operations.

Lores, who has been a member of PayPal’s Board of Directors for five years and served as Board Chair since July 2024, will take over from Alex Chriss on March 1, 2026. His appointment marks a significant moment for PayPal as it looks to navigate an increasingly competitive and rapidly evolving payments industry, particularly as AI and other technologies reshape the landscape.

PayPal’s Performance in Q4: Growth Amid Challenges

For the fiscal year 2025, PayPal delivered robust performance, highlighted by a 4% increase in net revenue, which reached $33.2 billion. Total Payment Volume (TPV), a key metric for the company, grew by 7% year-over-year, reaching nearly $1.8 billion. These numbers underscore PayPal’s continued strength as a global payments platform, with diversified services across multiple channels.

However, despite the positive financial results, PayPal admitted that its execution in certain areas had not met expectations, particularly with its branded checkout service. Jamie Miller, the company’s Chief Financial and Operating Officer and interim CEO during this leadership transition, acknowledged that while the company’s performance was strong across various areas, its progress in improving branded checkout had been slower than anticipated. Miller stated that the appointment of Lores as CEO is a strategic move to address these execution challenges and accelerate innovation and results moving forward.

Enrique Lores: A Visionary Leader for the Next Phase of Growth

Enrique Lores brings over three decades of leadership experience across technology and commercial sectors, making him an ideal candidate to guide PayPal through its next phase of transformation. Lores’ previous role as President and CEO of HP Inc. provided him with deep expertise in managing complex organizational transformations, including leading the successful separation of HP Inc. and Hewlett Packard Enterprise (HPE). During his tenure at HP, Lores spearheaded the company’s transition into new markets, expanding its offerings beyond PCs and printing to include services, subscriptions, and AI-driven solutions.

Commenting on his appointment, Lores shared his vision for PayPal’s future. “We will further strengthen the culture of innovation necessary to deliver long-term transformation while balancing it with near-term delivery,” he stated. “The payments industry is evolving faster than ever, driven by new technologies, changing regulations, and the rapid acceleration of AI. PayPal is uniquely positioned at the heart of this change, and I look forward to leading the team to accelerate the delivery of new innovations and shape the future of digital payments and commerce.”

Lores’ appointment is seen as part of PayPal’s strategy to build on its core strengths while addressing emerging challenges in the industry. His experience with driving innovation, simplifying operations, and ensuring disciplined execution is expected to help PayPal maintain its leadership position in the payments sector.

A Shift in Leadership: Alex Chriss’ Contributions

Alex Chriss, who has served as PayPal’s CEO for the past two and a half years, played a pivotal role in expanding PayPal’s services, particularly in the Buy Now, Pay Later (BNPL) sector. Under Chriss’ leadership, PayPal also made significant progress in monetizing Venmo, one of the company’s key platforms in the U.S.

Chriss expressed pride in his time at PayPal, stating, “I am proud to have had the opportunity to lead such a great company and work with such a talented team. Now is the right time to make a transition to a seasoned leader who can take the company through its next phase of transformation.” Chriss also emphasized his confidence in Lores, calling him “the right person” to lead the company in its next chapter.

The PayPal Board thanked Chriss for his leadership and contributions, particularly for modernizing the company and expanding its reach in key sectors like BNPL. As the company transitions to Lores’ leadership, Chriss will step down from his role, but his contributions will be remembered as instrumental in PayPal’s growth and development during a transformative period.

PayPal’s Strategic Focus Under Lores’ Leadership

Under Lores’ leadership, PayPal is expected to continue focusing on several key areas that align with the company’s long-term goals. One of these areas is the continued development and integration of new technologies, including AI, to enhance PayPal’s services and improve its ability to meet the evolving needs of customers and merchants alike. AI, in particular, is playing a central role in the next wave of digital payment solutions, and PayPal is determined to remain at the forefront of this technological shift.

Another strategic priority for PayPal is further expanding its global reach, particularly in emerging markets where digital payments are becoming increasingly essential for economic growth. With an emphasis on customer-centric innovation, PayPal aims to provide seamless payment experiences across multiple platforms and regions, helping businesses adapt to the changing financial landscape.

Lores will also focus on maintaining PayPal’s strong reputation for security and trust, especially as concerns over data privacy and cyber threats continue to grow. Ensuring the protection of customer data while enabling faster, more efficient payment processing will remain a core priority.

Shaping PayPal’s Future in an Evolving Industry

The appointment of Enrique Lores as PayPal’s CEO comes at a critical time for the payments giant, as it navigates a rapidly changing industry landscape. The global payments sector is undergoing a transformation driven by advancements in technology, regulatory changes, and shifting consumer preferences. With Lores at the helm, PayPal is positioning itself to continue its leadership role in digital payments while evolving to meet the needs of tomorrow’s consumers and businesses.

As PayPal prepares for this new chapter, the company’s ability to innovate, execute on its strategy, and deliver value to customers and shareholders will be crucial in maintaining its industry dominance. With a clear vision for the future and a commitment to growth, Lores is set to guide PayPal through a period of continued transformation and success.