PayPal Holdings has named long-time Intuit executive Alex Chriss as its new President and CEO, effective Sept. 27, 2023. The appointment follows a search process conducted over the past several months with the mandate to find a next-generation leader with extensive global payments, product and technology experience capable of driving growth across the PayPal platform.
Chriss will have to deal with new competitors in the payments space: in January 2023, seven banks, including JPMorgan Chase, Bank of America and Wells Fargo, announced they were developing a digital wallet to challenge the dominance of PayPal and Apple Pay.
Chriss joined Intuit 19 years ago and has held roles of increasing responsibility, including creating Intuit’s Partner and Developer Platform, leading the Self-Employed Solutions team and serving as Chief Product Officer of the Small Business Group from 2017 to 2019. In January 2019 Chriss was appointed EVP and General Manager of Intuit’s Small Business and Self-Employed Group, responsible for more than half of Intuit’s revenue.
“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 in a statement.