PayPal Holdings has announced the selection of Alex Chriss, a prominent leader at Intuit, to take on the role of President and CEO starting September 27, 2023. Chriss will also join the Board on that date.

The appointment follows a comprehensive search by the Board of Directors for a leader with extensive experience in global payments, product development, and technology, the company said in a statement.

Chriss, who currently serves as the Executive Vice President and General Manager of Intuit's Small Business and Self-Employed Group, has played a pivotal role in driving Intuit's growth and revenue. His leadership has been instrumental in successfully delivering products like QuickBooks and Mailchimp to a global user base.

"With his depth of experience in product development, his passion for serving customers and his longstanding commitment to empowering and enabling small businesses, and his proven track record of developing and inspiring his team, Alex is the perfect leader to take PayPal forward and accelerate the company's growth opportunities," said John Donahoe, Chair of the PayPal Board of Directors. 

Schulman will remain on the board of the company until its next annual meeting of stockholders in May 2024.

"PayPal is an extraordinary company that plays a critical role in the lives of consumers and merchants all over the world," said Alex Chriss, PayPal's incoming President and CEO.