Source: Fortune
Summary
PayPal CEO Alex Chriss has been replaced by Enrique Lores, CEO of HP, after failing to halt the decline in PayPal’s share price, which is down 80% from five years ago. The company also predicted lower earnings for 2026. Lores’ appointment has not reassured the market, with PayPal shares down 17% on Tuesday. PayPal has struggled to keep pace with competitors like Apple and Stripe, and its stablecoin, PYUSD, has failed to gain significant market share.
Our Reading
The numbers tell one story.
PayPal’s “classic innovator’s dilemma” has caught up with it. Alex Chriss’s vision for a tech-focused future, including AI and stablecoins, has not paid off. Enrique Lores, the new CEO, promises to “strengthen the culture of innovation” and deliver “long-term transformation.” But for now, the market is unimpressed. The fact that Lores’ departure from HP was reportedly a surprise to the company’s board doesn’t exactly inspire confidence.
PayPal’s struggles are a reminder that even the biggest players can get disrupted.
Author: Evan Null
