PayPal Names Srini Venkatesan as Chief Technology Officer

Rhea-AI Summary

PayPal (NASDAQ: PYPL) has appointed Srini Venkatesan as Chief Technology Officer (CTO), effective June 24, 2024, reporting to President and CEO Alex Chriss. Venkatesan will oversee technology development and implementation, focusing on analytics, AI, machine learning, information security, infrastructure operations, and product engineering. He joins PayPal from Walmart, where he led the U.S. Omni Platforms and Tech organization. Venkatesan's previous roles include leadership positions at Yahoo, eBay, StubHub, and Marketo. Outgoing CTO Archie Deskus has been credited for advancing PayPal’s platform and technology strength.

Positive

• Srini Venkatesan's strong background in leading technology development at major corporations like Walmart and Yahoo.
• Venkatesan's experience in AI, machine learning, and digital transformation aligns with PayPal's strategic goals.

Negative

• Departure of current CTO Archie Deskus, who had strengthened PayPal's technology team and systems.

SAN JOSE, Calif., June 20, 2024 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the appointment of Srini Venkatesan as Chief Technology Officer (CTO), effective June 24, reporting to PayPal President and CEO Alex Chriss. In this role, Venkatesan will lead the development and implementation of technology across the entire PayPal ecosystem, including analytics and data science, artificial intelligence (AI) and machine learning, information security, infrastructure operations, and product engineering. 

"Srini is a seasoned technologist and leader with a successful track record of building and scaling technology organizations, from early-stage startups to the world's largest retailer," said Chriss. "As we execute our mission to revolutionize commerce globally, Srini's experience leading technology, digital transformation, and AI personalization from inside some of our largest customers and partners will be invaluable. I'm thrilled to have Srini join the PayPal team." 

Venkatesan joins PayPal from Walmart where he most recently led the U.S. Omni Platforms and Tech organization. At Walmart, he led a team to build platforms, features, and capabilities to support the retailer globally. Prior to Walmart, Venkatesan oversaw Yahoo's display and video ad technology platform. Earlier in his career, he led product and technology teams at eBay and was Chief Technology Officer at StubHub and Marketo. Venkatesan earned a bachelor's degree in electrical engineering from Bharathiar University. 

"I've spent my career innovating to create new and improved ways for customers to discover, shop, and buy the goods they want and need," said Venkatesan. "I'm incredibly excited about joining PayPal and bringing together my experiences across tech and retail to personalize customers' shopping experiences."

Archie Deskus, who currently serves as PayPal's Chief Technology Officer, has decided to leave PayPal. Under Deskus' leadership, PayPal has made significant progress toward operating as a true platform company and strengthened its technology team, processes, and systems.

About PayPal
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/. 

Investor Relations Contact:   
investorrelations@paypal.com   

Media Relations Contact:   
mediarelations@paypal.com

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SOURCE PayPal Holdings, Inc.

FAQ

Who is PayPal's new CTO?

Srini Venkatesan has been appointed as PayPal's new Chief Technology Officer.

When will Srini Venkatesan start his role as PayPal's CTO?

Srini Venkatesan will start as PayPal's CTO on June 24, 2024.

What is Srini Venkatesan's background before joining PayPal?

Srini Venkatesan previously led the U.S. Omni Platforms and Tech organization at Walmart and held leadership roles at Yahoo, eBay, StubHub, and Marketo.

What will Srini Venkatesan oversee as PayPal's CTO?

Srini Venkatesan will oversee technology development and implementation, including analytics, AI, machine learning, information security, infrastructure operations, and product engineering.

Why is Archie Deskus leaving PayPal?

The press release did not provide specific reasons for Archie Deskus's departure, but acknowledged his contributions in strengthening PayPal's technology team and systems.