PayPal (NASDAQ:PYPL) has named Alex Chriss as its new Chief Executive Officer following an extended search to replace Dan Schulman. This is according to a report by CNBC.
Chriss is currently GM of the Small Business & Self-Employed Group for Intuit which also includes MailChimp. Chriss will start at PayPal in late September.
Schulman announced his exit earlier this year but will remain on the Board of Directors going forward.
PayPal is a Fintech OG and an early entrant in the payments and transfer sector, including its popular P2P service Venmo. In recent years, the company has endured a growing number of competitors providing similar services. PayPal has countered by offering new and improved services, including its recently announced stablecoin.
More recently, PayPal has experienced some executive shuffling, including the scheduled departure of PayPal’s digital currency chief Jonathan Auerbach who is expected to exit the firm next year. Auerbach, who has been at PayPal since 2015, was a key executive in the launch of PayPal’s stablecoin powered by Paxos.