PayPal Appoints Enrique Lores to Board of Directors

Rhea-AI Summary

PayPal (NASDAQ: PYPL) announced the appointment of Enrique Lores, current CEO of HP Inc., to its board of directors, effective June 29, 2021. This brings the board to 12 members. Lores, with over 30 years at HP, will contribute his extensive technology experience to support PayPal's growth in the digital payments sector. Lores expressed enthusiasm for joining the board, emphasizing the role of technology in fostering economic inclusion. PayPal continues to empower over 375 million users globally through its innovative financial services.

Positive

• Enrique Lores brings over 30 years of leadership experience in the technology sector.
• The appointment may enhance PayPal's strategic vision and operational expertise.

Negative

• Concerns regarding continuity and experience gaps due to a new board member's integration.

SAN JOSE, Calif., June 30, 2021 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced it has appointed Enrique Lores, president and CEO of HP Inc., to its board of directors, effective June 29, 2021. With the appointment of Mr. Lores, the company's board has 12 members.

"Enrique is a proven leader with deep experience at the highest levels of the technology industry, and his product and operational expertise will be invaluable to PayPal as we continue to expand our leadership position in this new digital era," said Dan Schulman, president and CEO, PayPal. "The board of directors and the entire PayPal team join me in welcoming Enrique to the board."

Since November 2019, Mr. Lores has served as president and chief executive officer of HP Inc., and as a member of the company's board of directors. In a career spanning over 30 years with HP, Mr. Lores has held numerous senior leadership positions across the personal systems, print, industrial and services businesses at a regional and international level, including leading teams in North America, Europe, the Middle East and Africa.

"I am thrilled to be joining the board of one of the most innovative and impactful companies of our time," said Lores. "Technology is perhaps the greatest tool we can utilize to drive economic inclusion, and PayPal is an incredible leader in this space. I look forward to helping the company deliver on its mission and strategic vision."

Mr. Lores also serves on the board of directors of the Silicon Valley Leadership Group and ESADE Business School. He received his B.S. in electrical engineering from the Polytechnic University of Valencia and his M.B.A. from ESADE Business School.

About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 375 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.

Contacts
Investor Relations
Gabrielle Rabinovitch
grabinovitch@paypal.com

Media Relations
Josh Criscoe
jcriscoe@paypal.com

 

View original content:https://www.prnewswire.com/news-releases/paypal-appoints-enrique-lores-to-board-of-directors-301323264.html

SOURCE PayPal Holdings, Inc.

FAQ

Who is the new board member appointed by PayPal on June 29, 2021?

Enrique Lores, the president and CEO of HP Inc., was appointed.

What experience does Enrique Lores bring to PayPal's board?

Lores has over 30 years of leadership experience in the technology industry.

How many members are on PayPal's board of directors after this appointment?

With Lores' appointment, PayPal's board now has 12 members.

What is Enrique Lores' vision for PayPal as a board member?

Lores aims to help PayPal drive economic inclusion through technology.