PayPal is entering a new chapter, with Alex Chriss set to take the reins of the digital payments giant next month.
PayPal Holdings Inc. is entering a new chapter, with Alex Chriss set to take the reins of the digital payments giant next month.
Chriss, who’s spent nearly two decades at Intuit Inc. INTU , will take over as PayPal’s PYPL chief executive Sept. 27, the company announced Monday. He’ll succeed Dan Schulman, who previously announced plans to step down after having guided PayPal through its journey as a standalone company following its 2015 split from eBay Inc. EBAY .
He has M&A experience PayPal highlighted Chriss’s role in leading Intuit’s $12 billion acquisition of Mailchimp, “significantly expanding the capacity of Intuit’s platform and its customer base.” Plus, Jonathan Auerbach, the company’s chief strategy, growth and data officer, will leave that position at year end before sticking around in an advisory capacity for another five months.His appointment removes an overhang Analysts say uncertainty about who would lead PayPal had been weighing on its stock since Schulman announced his retirement plans in February.
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