What is the primary reason for this leadership change?

The filing does not explicitly state the reason for Alex Chriss's departure, only that he ceased to serve as President and CEO and resigned from the Board. The announcement focuses on the appointment of Enrique Lores as the new CEO.

What is Enrique Lores' background and experience?

Enrique Lores has a long and distinguished career, most recently serving as the Chief Executive Officer of HP Inc. for six years and spending a total of 30 years at HP in various leadership roles. He holds degrees in electrical engineering and an MBA.

How is Enrique Lores being compensated?

Mr. Lores' compensation includes an annual base salary of $1,450,000, an annual target bonus opportunity of 200% of his base salary, and significant equity awards. These equity awards include make-whole RSUs totaling $20 million, 2026 RSUs and PSUs valued at $16.5 million, 2027 RSUs valued at $11 million, and one-time PSUs with a target value of $25 million, vesting based on stock price performance.

What is the role of Jamie Miller during this transition?

Jamie Miller, the Chief Financial and Operating Officer, has been appointed as the Interim President and Chief Executive Officer, effective immediately, to lead the company until Enrique Lores officially takes over on March 1, 2026. She has also received a $3 million retention award.

PYPL 8-K: Leadership Changes & Regulation FD

Summary

PayPal Holdings, Inc. (PYPL) announced a significant leadership transition via an 8-K filing on February 3, 2026. The company has appointed Enrique Lores as its new President and Chief Executive Officer, effective March 1, 2026. Mr. Lores brings extensive experience, having previously served as CEO of HP Inc. for six years and with a 30-year tenure at HP. This appointment follows the departure of Alex Chriss as CEO and a member of the Board, effective February 2, 2026. In the interim period before Mr. Lores takes over, Jamie Miller, the current Chief Financial and Operating Officer, has been appointed Interim President and CEO. The filing also details Mr. Lores' compensation package, which includes a base salary of $1,450,000, a target bonus of 200%, and significant equity awards designed to compensate for forfeited awards and incentivize future performance. A new Board Chair, David Dorman, has also been appointed.

Key Highlights

1Enrique Lores appointed as new President and CEO, effective March 1, 2026.
2Alex Chriss has departed as President and CEO and resigned from the Board, effective February 2, 2026.
3Jamie Miller appointed as Interim President and CEO until March 1, 2026.
4Enrique Lores' compensation package includes a $1.45M base salary, 200% target bonus, and substantial equity awards totaling over $50 million in grant date value, including make-whole RSUs and performance-based awards.
5David Dorman appointed as the new Chair of the Board, effective February 2, 2026.
6Jamie Miller receives a $3 million cash retention award tied to vesting over two years.

PayPal Holdings, Inc. 8-K Report, Executive Changes (Feb 3, 2026)

Summary

Key Highlights

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