According to a report by David Faber of CNBC, Alex Chriss, a former executive of Intuit, has been appointed as the next CEO of PayPal, a major financial institution.
PayPal’s president and CEO, Dan Schulman, intends to retire. He made his resignation known early this year. According to Faber, Schulman will continue to serve as a PayPal director until next May.
The selection procedure, which got under way in February, led to the hiring. The board interviewed nine applicants, some of which were incumbent CEOs in the consumer services and fintech sectors. They narrowed down the field to four applicants, and Chris was ultimately chosen.
It’s important to note that the new CEO oversaw the massive $12 billion acquisition of Mailchimp in September 2021. According to board members, PayPaol will be able to achieve its expansion goals thanks to his focus on small and medium-sized enterprises, Faber continues.
The corporation’s drive into cryptocurrencies was overseen by Schulman, who took over as PayPal’s CEO in 2015 when the company separated from eBay. The business launched its own dollar-pegged stablecoin earlier this month after originally enabling clients to purchase, sell, and retain a variety of cryptocurrencies in October 2020 and subsequently making it easy to pay with cryptocurrency at millions of retailers globally.
