PayPal Holdings has announced a major leadership change, appointing Alex Chriss as its new President and CEO, effective September 27, 2023.
Alex Chriss will be taking over from Dan Schulman, who has led the company through a transformative period since its split from e-commerce giant eBay in 2015.
Schulman’s Tenure and Achievements
Dan Schulman’s tenure as PayPal’s CEO saw the company’s evolution into a financial technology powerhouse. Dan Schulman was instrumental in guiding PayPal as it embraced digital currencies for payments and transfers, becoming a pioneer in the space. Dan Schulman’s leadership was also marked by the company’s successful entry into the buy now, pay later (BNPL) market, which has gained substantial traction in recent years.
Under Dan Schulman’s guidance, PayPal’s strategic initiatives and innovative services helped solidify its position as a leader in the fintech industry. The company’s focus on user-centric solutions and forward-looking technologies contributed to its growth and success.
Incoming CEO Alex Chriss’s Background and Achievements
Alex Chriss, the incoming President and CEO of PayPal, brings with him a wealth of experience in the technology and business sectors. Prior to joining PayPal, Alex Chriss held the role of Executive Vice President and General Manager of Intuit’s Small Business and Self-Employed Group since January 2019. In this capacity, he led a global team that played a pivotal role in delivering essential services to millions of small business owners and entrepreneurs.
During his time at Intuit, Alex Chriss demonstrated a remarkable track record of fostering market-leading customer growth engines and platforms. He oversaw the growth of the Small Business segment, achieving impressive compound annual growth rates of 20% and 23% in customers and revenues, respectively, over a five-year period.
Alex Chriss’s leadership was particularly evident in Intuit’s strategic moves, such as the successful $12 billion acquisition of Mailchimp in 2021. This acquisition significantly expanded Intuit’s platform capacity and customer base, further cementing the company’s position as a hub for small and mid-market businesses.
Transition of Leadership and Future Outlook
As Alex Chriss assumes his new role as PayPal’s CEO, he inherits a company poised for continued growth and innovation. His experience in driving customer-centric solutions and fostering strategic partnerships positions him well to navigate the evolving fintech landscape.
In a separate announcement, Intuit revealed that Marianna Tessel will succeed Alex Chriss as the General Manager of its Small Business and Self-Employed Group. Marianna Tessel’s expertise and leadership will contribute to Intuit’s ongoing commitment to empowering entrepreneurs and small business owners.
With this leadership transition, PayPal enters a new chapter under Alex Chriss’s guidance. As the fintech industry continues to evolve, the company’s emphasis on innovation, customer-centric services, and strategic expansion remains as strong as ever.