PayPal, which made a quick entry into cryptocurrencies before the last bull season, has taken various steps in this field. Now, they are appointing a long-time Bitcoin investor as CEO. Alex Chriss, a senior Intuit executive, will serve as President and CEO starting from September 27, 2023, according to the Board of Directors.
The New PayPal CEO
This appointment comes after an extensive CEO search process conducted by the Board of Directors over the past few months. The need for a new generation leader with comprehensive global payment, product, and technology experience, who can guide growth on the PayPal platform in the coming years, placed Chriss in the CEO seat.
Chriss received the unanimous support of the Board of Directors and CEO search committee after comprehensive engagement and evaluation on all key criteria critical to PayPal’s future success. Chriss is an experienced and highly successful leader with technology and product leadership experience, serving as Vice President and General Manager of Intuit Small Business and Self-Employed Group, responsible for over half of Intuit’s revenue since January 2019.
PayPal Chairman John Donahoe said:
“With his deep product development expertise, passion for serving customers, long-standing commitment to empowering and enabling small businesses, and proven track record of developing and inspiring teams, Alex is the perfect leader to move PayPal forward and accelerate the company’s growth opportunities. The Board’s search committee worked diligently and meticulously to find the right candidate to take PayPal to its next phase of growth and expansion, and we are confident that Alex is that person.”
Schulman will continue to serve on the company’s board of directors until the next annual shareholders meeting in May 2024.
A 10-Year Bitcoin Investor
We can even say at least a 10-year Bitcoin investor. Alex mentioned in his tweet that he sold Bitcoin through Coinbase in 2013 and achieved the highest profit rate ever. So, his investment is much older, and Alex is one of the early adopters of crypto.
He wrote the following in a tweet on April 9, 2013:
“Just sold 2 Bitcoins. The best investment return ever!!!!!!!!”
COINTURK was the first to announce this tweet, and it had no likes or reposts until a few minutes before.
The new President and CEO of PayPal, Alex Chriss, believes that crypto brings significant benefits to small businesses. His tweet from 2016 also points to this.
Finally, the new President and CEO of PayPal, Alex Chriss, said:
“Throughout my career, I have supported small and medium-sized businesses and entrepreneurs, which are the backbone of every economy in the world. I am proud to take over the baton from Dan and excited to have the opportunity to work with PayPal’s talented and determined team to enhance its exceptional legacy and leverage its unique capabilities to deliver extraordinary products and services to businesses and consumers.”
