PayPal Announces Leadership Transition and New President of Global Markets

PayPal Holdings Inc. continues its leadership transition by appointing a seasoned veteran from Fiserv Inc. and Visa Inc. to lead its global markets division.

Suzan Kereere will assume the role of President of Global Markets at PayPal in early 2024, joining the company after her successful stint as Executive Vice President for Global Business Solutions at Fiserv. In her new position, Kereere will be responsible for overseeing global sales and product distribution, according to a company statement released on Wednesday.

Alex Chriss, PayPal's Chief Executive, expressed his confidence in Kereere's ability to elevate the company to new heights. Chriss emphasized PayPal's mission and values and highlighted Kereere's belief in them as catalysts for further cultural development and customer-centric innovation.

Chriss himself is relatively new to PayPal, taking over as CEO in late September. During his inaugural earnings call, he acknowledged the need to refocus the company on its core strengths, acknowledging that PayPal had been involved in too many endeavors, resulting in a lack of focus.

Adding to the recent changes in leadership, Jamie Miller, an experienced professional from EY, assumed the role of Chief Financial Officer last month. Additionally, Peggy Alford, currently serving as the Executive Vice President for Global Sales and Merchant Services, announced her intention to leave PayPal in January after serving the company for over 11 years.

Despite these developments, PayPal has faced challenges in its stock performance, with shares declining by 21% over the past year and 69% over a two-year period.