"PayPal Holdings (NASDAQ:PYPL) just did something nearly unheard of in Silicon Valley: it poached a sitting CEO from another public company. Enrique Lores, who led HP Inc () through six consecutive quarters of revenue growth, is now PayPal's new chief executive as of February 3, 2026. This wasn't a quiet retirement transition or a graceful succession plan. This was a raid."
"Here's what makes this move fascinating: HP is letting go of a CEO who just delivered a beat on Q4 2025 revenue at $14.64 billion versus consensus of $14.06 billion. Under Lores, HP's Personal Systems segment grew 8% year-over-year in that quarter. Yet HP stock has cratered 36% over the past year and sits 11% below where it started 2026. That disconnect tells you everything: Lores was executing, but the market stopped believing in HP's future."
"PayPal, meanwhile, is bleeding. The stock has dropped 41% over the past year despite consistently beating earnings estimates. As we noted in today's Daily Profit newsletter when covering semiconductor sector earnings volatility, execution beats don't always translate to stock performance when investors lose faith in the business model. Interim CEO Jamie Miller admitted in their latest filing that "execution has not been where it needs to be, particularly in branded checkout." That's corporate-speak for "we're losing to competitors.""
PayPal hired Enrique Lores, the sitting CEO of HP Inc., to become PayPal's CEO effective February 3, 2026. Lores led HP through six consecutive quarters of revenue growth and delivered Q4 2025 revenue of $14.64 billion versus consensus of $14.06 billion, with HP's Personal Systems up 8% year‑over‑year. Despite operational gains, HP stock fell 36% over the past year. PayPal's stock has dropped 41% despite earnings beats, and its interim CEO admitted execution shortfalls in branded checkout. PayPal expects Lores to modernize the business, fix checkout, and present a credible AI-driven payments strategy by mid-2026.
Read at 24/7 Wall St.
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