PayPal announced that it has appointed Alex Chriss as the company’s new President and CEO, effective on September 27, 2023. He will also become a member of PayPal’s Board of Directors.
Check Out These Resources
- Do you need a business bank account for your online business? Take a look at our review of the five best bank accounts for sellers, some of which are free with no minimum balance or deposits. [sponsored]
- Boost your social media engagement with Publer. Learn how you can save time writing engaging content faster with AI. [sponsored]
- Could your online business use capital for growth? Here is a primer on revenue-based loans, and how they work.
The appointment stems from an extensive search process led by the Board over the past months. The aim was to identify a visionary leader with comprehensive experience in global payments, product development, and technology. The selected candidate was expected to steer PayPal’s growth trajectory for the foreseeable future.
Alex Chriss received unanimous support from the Board and its CEO search committee. His credentials and performance across critical metrics that shape PayPal’s future success earned him this endorsement.
Having excelled as Executive Vice President and General Manager of Intuit’s Small Business and Self-Employed Group since January 2019, Chriss boasts substantial technology and product leadership expertise. Under his leadership, his division generated more than half of Intuit’s revenue.
Chriss has an established track record as a proficient business leader who led global teams, overseeing the delivery of products like QuickBooks and Mailchimp to millions of users worldwide.
He has been responsible for market-leading platforms that empower small and mid-market businesses to thrive. Over his tenure leading the Small Business segment, he achieved an impressive compound annual growth rate of 20% and 23% in customers and revenues, respectively. His leadership also facilitated Intuit’s $12 billion acquisition of Mailchimp in 2021.
“Alex is the perfect leader to take PayPal forward and accelerate the company’s growth opportunities,” said John Donahoe, Chair of the PayPal Board of Directors. Furthermore, Donahoe praised Chriss’ experience in product development, commitment to customer service, and his demonstrated ability to inspire teams aligns with PayPal’s objectives.
Expressing gratitude to outgoing CEO Dan Schulman for his contributions, Donahoe thanked him “for his outstanding leadership during PayPal’s eight years of growth as an independent company. Dan made many major contributions to PayPal and helped establish the strong foundation for the future.”
Schulman had announced earlier this year his intention of retiring from PayPal by year-end.
Chriss Excited To Guide PayPal’s Future
Alex Chriss, PayPal’s incoming President and CEO, is excited to join the company. He said, “PayPal is an extraordinary company that plays a critical role in the lives of consumers and merchants all over the world.
“Throughout my career, I have championed small and medium businesses and entrepreneurs, who are the backbone of every economy in the world.
“I am proud to take the baton from Dan and thrilled to have the opportunity to work with PayPal’s talented and committed team to build on PayPal’s remarkable history and draw on its unique capabilities to deliver outstanding products and services to businesses and consumers.”
Ensuring a smooth transition, Dan Schulman will remain on the board until the company’s next annual stockholder meeting in May 2024. With the appointment of Chriss, PayPal seeks to continue its trajectory of innovation and global influence in the digital payments space.
Subscribe to Our Newsletter
We do not sell your information.
You can unsubscribe at any time.
Head over to our Facebook Group for Small Business Marketplace Sellers and interact with us and other small business owners. Follow us on Facebook, Twitter, or LinkedIn to stay up to date with relevant news and business insights for your online business.