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AI brief of an SEC Form 8-K · PayPal (PYPL)

PayPal names Enrique Lores CEO effective March 1, 2026; Alex Chriss departs

Neutral Impact 4 of 5 leadership Written later

PayPal's board appointed Enrique Lores, former HP Inc. CEO and PayPal board chair, as President and CEO effective March 1, 2026, succeeding Alex Chriss, who resigned as CEO and director effective February 2, 2026. The company said the board's evaluation found that the pace of change and execution over the last two years was not in line with its expectations, and CFO and COO Jamie Miller will serve as interim CEO until Lores takes over.

Key points

  • Enrique Lores appointed President and CEO effective March 1, 2026; offer letter sets base salary at $1,450,000 and target bonus at 200% of base salary.
  • Lores receives make-whole RSUs with a grant date value of $20,000,000, 2026 annual RSUs and PSUs valued at $16,500,000 each, and one-time PSUs with a target value of $25,000,000.
  • Jamie Miller named Interim President and CEO effective immediately, with a cash retention award of $3,000,000 vesting 67% on February 2, 2027 and 33% on February 2, 2028.
  • David Dorman appointed independent Board Chair effective February 2, 2026, replacing Lores as Chair.

The filing

CompanyPayPal (PYPL)
Form8-K, current report
Filed with the SECFeb 3, 2026, 5:14 PM ET
Accession number0001193125-26-035860

Items reported: 5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 03, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.