PayPal’s new CEO will be Alex Chriss, from September 27as first reported by CNBC. Chriss is currently Senior Vice President and CPO of Small Business at Intuit, succeeding Dan Schulman. Schulman, who has been PayPal’s president and chief executive officer since 2014, had previously announced plans to step down at the end of the year and will remain a director until next May.
The company recently announced its own US dollar-backed stablecoin called PayPal USD (PYUSD) earlier this month, allowing people to make person-to-person payments and transfer the currency between PayPal and other external wallets. Cointelegraph reports that, on the same day, PayPal’s terms of service were also updated to mention a new Cryptocurrency Hub where users can manage crypto assets, including PYUSD.
Schulman mentioned at the time that digital currencies “require a stable instrument” like the US dollar, and now, PayPal will move forward with a new CEO.
Chriss’ tenure at Intuit included leading the $12 billion acquisition of Mailchimp in 2021, and managing small businesses and groups of the self-employed. “The board’s search committee worked diligently and thoroughly to find the right candidate to lead PayPal into its next stage of growth and expansion, and we’re confident Alex is that person,” says the chairman of PayPal’s board of directors. PayPal, John Donahoe, in a press release.
