PayPal Appoints New CEO Enrique Lores: Who Was Enrique Lores and Why PayPal Share Price Fell
A Defining Leadership Reset for the Payments Giant
PayPal appoints new CEO Enrique Lores in one of the most consequential leadership shake-ups in the company’s history. On February 3, 2026, PayPal Holdings confirmed that board member and former HP Inc. chief executive Enrique Lores will replace Alex Chriss as CEO, effective March 1, 2026.
The announcement landed alongside weaker-than-expected fourth-quarter earnings, triggering a sharp reaction in the market. PayPal share price plunged nearly 16% in pre-market trading, reflecting growing investor frustration over slowing growth, intense competition, and uncertainty about the company’s future direction.
Once the undisputed leader in digital payments, PayPal now finds itself at a crossroads. The decision that PayPal appoints new CEO Enrique Lores signals urgency from the board to accelerate transformation in an industry being reshaped by Big Tech, fintech disruptors, and artificial intelligence.
Table of Contents:
Why PayPal Changed Its CEO So Suddenly?
The PayPal board described the decision as the result of a “detailed strategic evaluation,” noting that while progress had been made under Alex Chriss, the pace of execution did not meet expectations.
Behind the corporate language lie deeper challenges:
- Slowing growth in PayPal’s core branded checkout business
- Erosion of market share to Apple Pay, Google Pay, and Stripe
- Persistent underperformance of PayPal share price
- Investor impatience after years of strategic pivots
When PayPal appoints new CEO Enrique Lores, it is not merely changing leadership—it is acknowledging that incremental improvements are no longer enough.
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Who Was Enrique Lores? The Man Taking Over PayPal
A key question investors are asking is who was Enrique Lores, and why did the board choose him for this pivotal role?
Enrique Lores: Background and Experience
Who was Enrique Lores before PayPal? He is a Spanish-born technology executive with more than 30 years of experience at HP Inc., where he served as President and CEO from 2019 to early 2026.
Lores joined HP in the late 1980s and rose through the ranks, holding leadership roles across printing, personal systems, and enterprise services. As CEO, he led HP through cost restructuring, portfolio simplification, and a renewed focus on profitable growth.
Enrique Lores at a Glance –
| Detail | Information |
|---|---|
| Name | Enrique Lores |
| Nationality | Spanish |
| Previous Role | CEO & President, HP Inc. |
| Tenure at HP | 30+ years |
| PayPal Board Role | Director for ~5 years, Chair since July 2024 |
| Education | M.S. Electrical Engineering (Polytechnic University of Valencia), MBA (ESADE) |
Understanding who was Enrique Lores is critical: he is not a payments insider by career, but he is a seasoned transformation leader with deep familiarity with PayPal through board service.
Why the Board Chose Enrique Lores?
When PayPal appoints new CEO Enrique Lores, the choice reflects three strategic priorities:
- Speed of Change – Lores is known for decisive restructuring
- Technology Focus – His background aligns with PayPal’s AI ambitions
- Board Continuity – As board chair, he already knows PayPal’s weaknesses
Unlike an external hire, Lores enters the role with institutional knowledge, reducing onboarding risk at a time when PayPal share price volatility is already high.
Alex Chriss’s Short and Challenging Tenure
Alex Chriss became PayPal CEO in September 2023 after a long career at Intuit. His mandate was clear: restore profitability and refocus strategy after the post-pandemic slowdown.
Chriss’s Strategic Priorities –
- Monetizing Venmo
- Expanding Buy Now, Pay Later services
- Cutting costs and improving margins
- Refocusing on branded checkout
While some progress was achieved, revenue growth continued to slow, and PayPal share price failed to recover meaningfully. When PayPal appoints new CEO Enrique Lores, it effectively ends Chriss’s attempt to stabilize the company through gradual execution.
Q4 Earnings: The Immediate Trigger
The leadership change coincided with disappointing Q4 2025 earnings, which became the immediate catalyst for market concern.
PayPal Q4 2025 Financial Snapshot –
| Metric | Result | Market Expectation |
|---|---|---|
| Revenue | $8.68 billion | $8.80 billion |
| Adjusted EPS | $1.23 | $1.28–$1.29 |
| Payment Volume | $475.1 billion | Slightly higher expected |
| Net Income | $1.44 billion | Strong YoY growth |
Despite rising net income, investors focused on slowing revenue momentum. As a result, PayPal share price dropped sharply after the announcement.
PayPal Share Price: A Long-Term Decline
The reaction was dramatic, but not unexpected. PayPal share price has been under pressure for years.
PayPal Share Price Timeline –
- 2021 peak: ~$310
- 2023 (Chriss takes over): ~$60
- Early 2026 (pre-announcement): ~$75
- Post-announcement: ~$63
This nearly 80% decline from peak levels explains why investor confidence remains fragile even as PayPal appoints new CEO Enrique Lores.
Competitive Pressures Reshaping PayPal’s Business
Big Tech Is Winning the Wallet War –
PayPal’s dominance has been steadily eroded by:
- Apple Pay – Deep iPhone ecosystem integration
- Google Pay – Android scale advantage
- Amazon Pay – E-commerce checkout strength
These platforms benefit from hardware, operating systems, and app ecosystems—advantages PayPal does not control.
Fintech and Banking Threats –
Beyond Big Tech, PayPal faces pressure from:
- Stripe and Block (Cash App)
- BNPL specialists like Klarna and Affirm
- Real-time bank payment networks
When evaluating who was Enrique Lores, the board likely saw a leader capable of repositioning PayPal in this crowded landscape.
AI: The Opportunity Enrique Lores Is Betting On
In his first statement, Lores emphasized artificial intelligence as a defining force in payments. This focus aligns with PayPal’s need to differentiate beyond basic transactions.
AI Use Cases for PayPal –
- Advanced fraud detection
- Personalized checkout experiences
- Smarter credit and BNPL decisions
- Cost reduction through automation
As PayPal appoints new CEO Enrique Lores, AI becomes central to the turnaround narrative.
Comparing PayPal’s Recent Leaders
| Aspect | Dan Schulman | Alex Chriss | Enrique Lores |
|---|---|---|---|
| Background | Telecom & payments | Financial software | Technology & hardware |
| Market Phase | Growth boom | Post-pandemic slowdown | AI-driven disruption |
| Strategic Focus | Expansion & Venmo | Profitability | Transformation & innovation |
| Stock Impact | Early gains | Major decline | Yet to be seen |
This comparison highlights why who was Enrique Lores matters: he represents a shift toward aggressive transformation.
What Enrique Lores Must Do First?
Immediate Priorities –
- Stabilize branded checkout growth
- Restore confidence in PayPal share price
- Accelerate product innovation
- Communicate a clear, simple strategy
Hard Strategic Questions Ahead –
- Should PayPal narrow its focus or remain broad?
- How aggressively should it compete with Apple?
- Is M&A necessary to regain growth?
How Lores answers these questions will define whether the decision that PayPal appoints new CEO Enrique Lores proves successful.
Q&A: Key Investor Questions Answered
Q: Why did PayPal replace Alex Chriss so quickly?
A: The board wanted faster execution as competition intensified and PayPal share price stagnated.
Q: Who was Enrique Lores before PayPal?
A: He was CEO of HP Inc., where he led restructuring and transformation efforts.
Q: How did PayPal share price react?
A: Shares fell about 16% after earnings and the CEO announcement.
Q: Will strategy change immediately?
A: Likely not instantly, but faster decision-making and AI investment are expected.
Q: Why did PayPal replace Alex Chriss after less than three years?
A: The board cited dissatisfaction with the pace of change and execution. Despite some progress, PayPal’s transformation was proceeding slower than expected amid rapid industry changes.
Q: What qualifies Enrique Lores to lead a payments company?
A: Lores brings technology leadership experience from HP, deep knowledge of PayPal from five years on its board, and transformation experience from overhauling HP’s business model.
Q: How has PayPal share price reacted to previous CEO changes?
A: Historically, PayPal shares have shown volatility around leadership transitions. Dan Schulman’s departure in 2023 initially created uncertainty, but the stock stabilized as Chriss outlined his strategy.
Q: What immediate changes should we expect from Lores?
A: Initially, Lores will likely conduct a comprehensive review before announcing strategic changes. However, accelerated innovation, particularly in AI, and faster execution are expected priorities.
Q: How does this affect PayPal’s competition with Apple and Google?
A: The leadership change creates short-term uncertainty but could result in more aggressive competition long-term if Lores accelerates innovation and execution.
Q: What happens during the transition period before March 1?
A: CFO Jamie Miller serves as interim CEO, ensuring continuity. Lores is likely already engaged in transition planning while formally concluding his responsibilities at HP.
The Bigger Picture: PayPal’s Fight for Relevance
When PayPal appoints new CEO Enrique Lores, it reflects a broader reality: the payments industry PayPal created no longer belongs to PayPal alone.
Yet the company still has powerful assets:
- Global brand trust
- Merchant and consumer networks
- Venmo’s untapped potential
- Massive transaction data
If Enrique Lores can convert these strengths into innovation, PayPal share price could eventually recover.
Conclusion: A High-Stakes Bet on Transformation
The decision that PayPal appoints new CEO Enrique Lores marks a turning point. It is a bet that a technology-focused transformation leader—someone who understands both boardroom pressure and operational execution—can reignite growth.
For investors, the risk is clear. For PayPal, the alternative was stagnation.
Whether this leadership reset restores momentum or merely buys time will depend on how quickly Enrique Lores turns strategy into results—and whether the market regains confidence in PayPal’s future.
For now, all eyes remain on PayPal share price, and on the man many are still asking about: who was Enrique Lores, and can he change PayPal’s destiny?
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