PayPal CEO Dan Schulman to leave at end of 2023, company begins search for successor
Publishing timestamp: 2023-02-09 17:18:32
Summary
PayPal CEO Dan Schulman announced his retirement at the end of 2023 and will remain a member of the board of directors. He said he is proud of what the company has accomplished and the people he works with. PayPal's stock has jumped 130% since the 2015 spinoff, but has lost three-quarters of its value since its peak in July 2021. Activist investor Elliott Management accumulated an undisclosed stake in PayPal last summer. Schulman said he has not experienced any pressure from Elliott and the board is looking for the best candidate to succeed him. PayPal reported net revenue of $7.4 billion in the fourth quarter.
Sentiment: NEUTRAL
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