PayPal (NASDAQ:PYPL) stock is in the news Monday as investors react to the finance transfer company naming Alex Chriss as its next CEO.
With this announcement, Chriss will take over as president and CEO of PayPal. He is replacing outgoing CEO Dan Schulman with his first day of work starting on Sept. 27, 2023. That will also see him join the company’s board of directors.
Chriss is joining PayPal after serving as the executive vice president and general manager of Intuit’s (NASDAQ:INTU) Small Business and Self-Employed Group since 2019. The new PayPal CEO has spent almost two decades with Intuit after joining the company 19 years ago.
John Donahoe, Chairman of the PayPal board of directors, said the following about Chriss:
“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.”
PYPL Stock Movement Today
With the announcement of a new CEO, more than 8 million shares of PYPL stock are on the move as of this writing. That’s still a way off from its daily average trading volume of about 17.7 million shares. Even so, PYPL stock is up 2.2% as of Monday morning.
Investors looking for even more of the most recent stock market news will want to keep reading!
InvestorPlace has all of the latest stock market coverage that traders need to know about on Monday! That includes what’s going on with shares of BioXcel Therapeutics (NASDAQ:BTAI) stock, Okta (NASDAQ:OKTA) stock, and Nikola (NASDAQ:NKLA) stock today. All of that news is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
