Chriss has nearly two decades of experience in various positions with Intuit and will take up the new role with PayPal in September.
Fintech giant PayPal has announced that Alex Chriss will become the company’s next CEO and president, replacing Dan Schulman.
Schulman, who led the company for roughly a decade, confirmed in February that he plans to retire this year to devote more time to his “passions outside the workplace”. Chriss is set to replace Schulman on 27 September and will also join PayPal’s board on this date.
Chriss is currently with Intuit, a US software company that provides a variety of financial tech products to more than 100m customers. Chriss has worked at Intuit for nearly two decades and led the company’s small business division for five years. Under his leadership, the division’s customers and revenue grew at a compound annual growth rate of 20pc and 23pc, respectively.
He has spent the past four years as executive VP and GM of Intuit’s small business and self-employed group. In 2021, he led the company’s $12bn acquisition of marketing platform Mailchimp.
John Donahoe, chair of PayPal’s board of directors, said the search committee worked “diligently” to find the right candidate to take PayPal to its next stage of growth.
“With his depth of experience in product development, his passion for serving customers and his longstanding commitment to empowering and enabling small businesses, and his proven track record of developing and inspiring his team, Alex is the perfect leader to take PayPal forward and accelerate the company’s growth opportunities,” Donahoe said.
Speaking on the appointment, Chriss said PayPal is an “extraordinary company” that plays a critical role in the lives of consumers and businesses.
“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 said.
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