"The pace of change and execution was not in line with the Board's expectations."
""classic innovator's dilemma""
Alex Chriss became PayPal CEO in late 2023 and prioritized technology initiatives including AI and stablecoins. Barely two years later, the board replaced him with chairman Enrique Lores, citing poor performance and insufficient pace of change and execution. The leadership change accompanied weaker guidance for 2026 and a sharp market reaction that sent shares down about 17% on the announcement and roughly 80% from five years prior. Competitors such as Apple and Stripe eroded PayPal's core checkout and payments market share despite assets like Venmo and broad distribution. PayPal's PYUSD stablecoin has failed to gain meaningful market share.
Read at Fortune
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