Spanish Tech Veteran Enrique Lores Appointed PayPal CEO
In a significant leadership shakeup, PayPal’s board of directors has named Spanish executive Enrique Lores as its new Chief Executive Officer effective March 1, 2026. The 60-year-old technology veteran succeeds Alex Chriss, marking the first time a Spaniard leads the $68 billion payments giant co-founded by Elon Musk and Peter Thiel.
From HP Leadership to PayPal’s Helm
Lores steps down after six impactful years as HP’s President and CEO, where he orchestrated the company’s pivot toward subscription services and AI-driven workplace solutions. His PayPal appointment follows a five-year tenure on the company’s board, including board chairmanship since mid-2024. “The board recognized Enrique’s unique combination of deep payments knowledge and transformational leadership experience,” PayPal stated in its official announcement.
Urgent Need for Strategic Acceleration
PayPal’s leadership change comes amid investor concerns about slowing innovation. The company acknowledged in its statement: “While progress has been made in different areas over the past two years, the pace of change and execution has not lived up to board expectations.” Industry analysts note PayPal’s stock has underperformed the Nasdaq by 22% over the past year, according to MarketWatch data.
Proven Leadership Through Industry Transitions
Lores brings 35 years of technology leadership to PayPal, having joined HP as an engineering intern in 1989 and rising through ranks to CEO in 2019. During his HP tenure, he:
- Increased services revenue by 42% through strategic acquisitions
- Spearheaded the industry’s first AI-powered printer security solutions
- Navigated global supply chain disruptions during the pandemic
Immediate Transition Plan
PayPal CFO Jamie Miller will serve as interim CEO until March 1, while board member David W. Dorman assumes the chairman role immediately. This staggered transition aims to maintain stability during the leadership change.
PayPal’s Strategic Priorities Under New Leadership
In his first statement as CEO-designate, Lores outlined his vision: “We’ll balance short-term execution with long-term transformation, accelerating innovation in AI-powered payments while improving financial discipline.” Industry observers expect increased focus on:
Competition in Digital Payments
The payments sector faces intensifying competition from Apple Pay, Stripe, and blockchain solutions. Lores’ experience in HP’s competitive printer markets positions him to navigate PayPal through this landscape. “The convergence of AI, regulatory changes, and new payment technologies creates both challenge and opportunity,” Lores noted.
Ripple Effects at HP
Lores’ departure triggers immediate leadership changes at HP, where board member Bruce Broussard becomes interim CEO. HP has formed a CEO search committee and retained a global executive firm to find a permanent successor, according to their SEC filing.
Industry Reactions
Market analysts have responded cautiously to the news. “Lores successfully transformed HP’s business model, but payments present different challenges,” noted Gartner fintech analyst Avivah Litan. “His deep understanding of PayPal’s operations from the board role gives him a running start.”
As PayPal processes over $1.5 trillion in annual payment volume, all eyes will be on how this seasoned technology leader steers the company through its next chapter. Lores concluded: “We will consistently deliver quarter after quarter while building PayPal’s future.”
Source: Diario de Ibiza with additional data from PayPal investor relations and HP corporate disclosures
Images Credit: www.diariodeibiza.es