PayPal Appoints Enrique Lores as CEO Following Revenue Drop

On the 3rd of February 2026, PayPal appointed Enrique Lores, former HP CEO and current PayPal board chair, as its new President and Chief Executive Officer effective March 1, 2026. The leadership change comes after PayPal reported weaker-than-expected fourth-quarter revenue and profit, reflecting slowing consumer spending.

This is shortly after PayPal announced its collaboration with Paga to continue operating within the Nigeria fintech market system. In addition to this, the leadership change also follows PayPal's warning of declining customer spending due to limitations on the world economy, which raised questions about the company's future growth potential. 

Currently operating as Chair of PayPal's Board of Directors, Lores has a wealth of leadership experience from his time as CEO of HP Inc., where he supervised projects for strategic change and restructuring. He joined PayPal's board over five years ago, and in July 2024 was appointed the board chair. 

PayPal reaffirmed its commitment to enhancing governance and oversight during this transition by also confirming the appointment of David W.Dorman as Independent Board Chair in addition to Lores. 

In the words of Lores, his tenure “ will further strengthen the culture of innovation necessary to deliver long-term transformation and balance this with near-term delivery, executing with greater speed and precision, and holding the company accountable for consistent delivery quarter on quarter, to further assert PayPal's industry leadership position.”

PayPal emphasized that under Lores’ leadership, the company will focus on product innovation, global expansion, and enhancing customer experience to reignite growth.