PayPal Appoints Intuit Executive Dan Schulman as President and CEO
Next month, Alex Chriss, an executive at Intuit, will assume the role of president and CEO at PayPal, a digital payments company.
Chriss takes over as CEO from Dan Schulman, who told PayPal’s board in February that he plans to retire at the end of the year. Schulman will remain on PayPal’s board until the next annual general meeting in May 2024.
In January, PayPal announced that it would cut about 7% of its total workforce, or about 2,000 full-time employees, due to challenging macroeconomic conditions.
Chriss, who has been with Intuit for 19 years, has served as vice president and director of Intuit’s small business and self-employed group since January 2019. He led Intuit’s $12 billion acquisition of Mailchimp in 2021. Other Intuit products include TurboTax and Credit karma.
Chriss will also join PayPal’s board of directors effective September 27.
PayPal Holdings Inc., based in San Jose, California, is the parent company of Venmo, Xoom and Honey, among others. Its share rose 2% in Monday morning trading.
