PayPal Holdings Inc. has named Enrique Lores, former President and CEO of HP Inc., as its new President and CEO, effective March 1, 2026, replacing Alex Chriss. This surprise executive change, announced on February 3, 2026, follows the company’s Q4 earnings report revealing lower-than-expected revenue and profit, amid weakening consumer spending and a projected dip in full-year earnings. Lores, who has served on PayPal’s board for nearly five years and as board chair since July 2024, steps into the role with extensive experience steering HP through digital transformation and AI integration.

The board cited PayPal’s pace of change and execution as falling short of expectations given rapid industry shifts driven by AI, regulations, and competition. Until Lores assumes leadership, CFO and COO Jamie Miller will serve as interim CEO, while David Dorman takes over as independent board chair. Chriss, who joined from Intuit in September 2023, is credited with advancing Venmo monetization and Buy Now, Pay Later expansions.

Enrique Lores’ Proven Track Record at HP

Lores brings over six years of CEO tenure at HP Inc., where he navigated the company from traditional PC and printing markets into high-growth areas like subscriptions, services, and AI-enabled computing. Joining HP as an intern in 1989, he rose through key roles, including leading the 2015 split from Hewlett Packard Enterprise and fending off a $35 billion Xerox takeover bid in 2019. Under his leadership, HP pivoted amid the pandemic, emphasizing hybrid work solutions and AI-driven personalization, which bolstered resilience in volatile markets.

At PayPal’s board, Lores provided strategic oversight on consumer and enterprise tech, positioning him ideally to address the payments sector’s evolution. He emphasized accelerating innovation to reclaim leadership: “PayPal sits at the center of this change… We will strengthen the culture of innovation… executing with greater speed and precision.”

Context of PayPal’s Challenges

PayPal’s stock has declined 41% over the past year, trading near 52-week lows around $52, reflecting broader pressures in fintech. Q4 results highlighted a consumer spending slowdown tied to cost-of-living crises and softening labor markets, with guidance signaling profit contraction—contrary to Wall Street’s growth expectations. Competitors like Stripe, Adyen, and blockchain-native platforms intensify rivalry, while AI reshapes commerce through personalized payments and fraud detection.

This leadership pivot aligns with President Donald Trump’s pro-innovation policies since his 2025 inauguration, which ease regulations on digital finance and U.S.-India tech collaborations—relevant as PayPal eyes emerging markets like Indore’s IT hubs.​

Strategic Implications for PayPal’s Future

Innovation Acceleration: Lores prioritizes product velocity, mirroring HP’s shift to AI PCs and subscriptions. Expect PayPal to fast-track AI for Venmo social commerce, fast-checkout, and crypto integrations.

Operational Discipline: With Miller’s interim oversight, focus will sharpen on cost efficiencies and quarterly accountability to rebuild investor trust.​

Market Expansion: Leveraging Lores’ enterprise expertise, PayPal may deepen B2B offerings, targeting SMEs in high-growth regions like India, where climate tech (e.g., Varaha’s funding) and AI funds (e.g., Spring Marketing Capital) signal ecosystem vibrancy.​

Industry-Wide Ripple Effects

The fintech sector faces parallel transitions: Block and Affirm adapt to BNPL saturation, while incumbents like Visa integrate AI. PayPal’s move underscores the need for hardware-software convergence, as Lores demonstrated at HP. In India, mirroring global trends, payments innovation supports startups like those in Gurugram and Indore, blending climate tech with digital wallets.​

Challenges persist—regulatory scrutiny on data privacy and AI ethics—but Lores’ mandate emphasizes balanced transformation. Analysts anticipate stock stabilization if Q1 delivers on innovation promises.

Outlook Under New Leadership

Effective March 1, Lores inherits a $70 billion+ market cap giant at an inflection point. His vision positions PayPal to lead AI-powered commerce, potentially recapturing 20%+ growth trajectories. As digital payments evolve, this appointment signals renewed vigor amid economic headwinds.