Exhibit 99.1
PayPal Names Alex Chriss as Next President and CEO
SAN JOSE, Calif., Aug. 14, 2023 /PRNewswire/ – PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that its Board of Directors has appointed senior Intuit executive, Alex Chriss, as President and CEO, effective September 27, 2023. Chriss will also join the Board on that date.
The appointment follows a thorough CEO search process, conducted by the Board over the last number of months, with the mandate to appoint a next generation leader with extensive global payments, product, and technology experience, capable of driving growth across the PayPal platform for years to come.
Chriss has the unanimous support of the Board and its CEO search committee following extensive engagement and evaluation across all of the key metrics that are critical to PayPal’s future success.
Chriss is a seasoned and highly successful business leader, steeped in technology and product leadership experience who, since January 2019, has served as Executive Vice President and General Manager of Intuit’s Small Business and Self-Employed Group, responsible for more than half of Intuit’s revenue.
Chriss currently serves on Intuit’s executive leadership team and has led a global organization of thousands of colleagues that delivered QuickBooks and Mailchimp to millions of users around the world. The businesses he has overseen and led at Intuit have become market leading end-to-end customer growth engines and platforms for small and mid-market companies and entrepreneurs to enable them to grow and run their business with confidence. During the five years that Chriss led the Small Business segment, he grew its customers and revenues at a compound annual growth rate of 20% and 23%, respectively. In 2021, he led Intuit’s successful $12 billion acquisition of Mailchimp, significantly expanding the capacity of Intuit’s platform and its customer base.
Chriss joined Intuit 19 years ago, serving in increasing levels of leadership across the company, including creating Intuit’s Partner & Developer Platform, leading the Self-Employed Solutions team and then serving as the Small Business Group’s Chief Product Officer from 2017 to 2019. During that time, he oversaw and implemented multiple strategic initiatives that transformed businesses inside Intuit into sustainable growth engines for the company.
