PayPal has announced the appointment of Alex Chriss as its next chief executive and president.

Chriss currently serves as executive vice president and general manager of business software company Intuit in a role he has held since January 2019, having been at the company and risen through the ranks over the past 19 years.

PayPal’s board of directors said that he will assume the new role and join the board from 27 September following a search process which had the mandate to appoint someone with “extensive global payments, product, and technology experience”.

"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.

He continued: "The board search committee worked diligently and thoroughly to find the right candidate to take PayPal into its next stage of growth and expansion, and we are confident Alex is that person."

Chriss succeeds Dan Schulman, who has been in the chief exec and president role at PayPal for the past eight years.

Commenting on his appointment, Chriss said: “I am proud to take the baton from Dan and thrilled to have the opportunity to work with PayPal's talented and committed team to build on PayPal's remarkable history and draw on its unique capabilities to deliver outstanding products and services to businesses and consumers."

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