SAN FRANCISCO—PayPal has named Alex Chriss as its new CEO.
Chriss will take over for PayPal’s longtime CEO Dan Schulman beginning Sept. 27. Schulman had previously announced a plan to step down from the role by the end of the year. He will remain a director at the company until May 2024, CNBC said.
Chriss has been serving as executive vice president of small business and self-employed group at Intuit.
“I am proud to take the baton from Dan and thrilled to have the opportunity to work with PayPal’s talented and committed team to build on PayPal’s remarkable history and draw on its unique capabilities to deliver outstanding products and services to businesses and consumers,” Chriss.
Shares of PayPal closed up more than 2% following the announcement.
‘Impressed by Leadership’
PayPal’s board said Chriss was chosen for the role out of a pool of nine candidates. The selection process began in February. The board members said they were impressed by Chriss’ leadership at Intuit, particularly as he steered the company through its $12 billion acquisition of the marketing platform Mailchimp, CNBC said.
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