- Enrique CEO steps down as CEO of HP and immediately becomes CEO of PayPal
- Alex Chriss leaves PayPal after two and a half years at the helm
- 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 succeed Alex Chriss at PayPal, who has held the position for just over two and a half years.
While the move may come as a surprise, Lores already had ties to the fintech company, serving as a PayPal board member for nearly five years.
Enrique Lores moves from HP to PayPal
In a statement, the board explained that the change in leadership followed concerns that “PayPal’s pace of change and execution was not consistent with [its] expectations.”
Lores was previously responsible for leading major changes at HP, where he shifted the company’s focus toward services and subscriptions.
“It has been an honor to lead HP in its evolution into an AI-driven technology company that is redefining workplace solutions and connecting with customers around the world,” Lores said in an HP statement.
“The payments industry is evolving 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 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 as the company searches for a new leader.
“Now is the right time to transition to a seasoned leader who can take the company through its next phase of transformation,” added Chriss, former CEO of PayPal. It’s unclear where Chriss goes after this role.
With PayPal having 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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