PayPal has recruited Intuit executive Alex Chriss as its new CEO and President, effective September 27, 2023.

PayPal has been on the hunt for a new CEO that can help steward the company into the next phase of its growth amid ongoing changes to the finance, payments, and crypto markets. The company chose Chriss, with the executive receiving unanimous support for the board of directors.

“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,” said John Donahoe, Chair of the PayPal Board of Directors. “The Board search committee worked diligently and thoroughly to find the right candidate to take PayPal into its next stage of growth and expansion, and we are confident Alex is that person.”

“On behalf of the Board, I also want to thank Dan Schulman for his outstanding leadership during PayPal’s eight years of growth as an independent company. Dan made many major contributions to PayPal and helped establish the strong foundation for the future. Our Board and our leadership team are looking forward to working with Alex to continue to fulfill PayPal’s potential as one of the world’s leading digital payments platforms and to expand the value we create for our customers and shareholders,” Donahoe concluded.

“PayPal is an extraordinary company that plays a critical role in the lives of consumers and merchants all over the world,” said Alex Chriss, PayPal’s incoming President and CEO. “Throughout my career, I have championed small and medium businesses and entrepreneurs, who are the backbone of every economy in the world. 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.”