PayPal names HP veteran Enrique Lores CEO to accelerate turnaround

PayPal taps HP veteran Enrique Lores to accelerate turnaround

PayPal Holdings appoints Enrique Lores as president and chief executive officer, effective March 1, 2026, as the company pursues faster execution and a renewed push on product and operational transformation. The board, which has had Lores as a member for nearly five years and as board chair since July 2024, names Jamie Miller, chief financial and operating officer, to serve as interim CEO during the handover. David W. Dorman assumes the role of independent board chair immediately.

The board says its decision follows a detailed evaluation of PayPal’s competitive position and industry landscape, noting some progress over the past two years but that the pace of change and execution has not met expectations. Directors express confidence that Lores, a technology executive with more than three decades of commercial experience, can lead a next chapter focused on culture, speed and disciplined delivery across product, technology, operations and go‑to‑market functions. The board also signals it will set specific performance metrics and timelines during the transition and maintain ongoing oversight, with public reporting of measured milestones against strategic priorities and financial targets.

Lores joins from HP Inc., where he serves as president and CEO and is credited with steering the company beyond PCs and printers into services, subscriptions and AI‑enabled offerings, leading the HP/HPE separation, simplifying cost structures and reinforcing operating discipline. PayPal’s new chair frames Lores as a leader who prioritises customer‑centric innovation and measurable impact, and the company underscores expectations that he will strengthen innovation culture while balancing near‑term delivery to preserve PayPal’s position in the fast‑evolving payments sector.

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