PayPal Holdings said on Monday that Alex Chriss, a top executive at tax-preparation software firm Intuit, would replace its longest-serving chief executive officer Dan Schulman on Sept. 27.
Underwhelming margins have been troubling the San Jose, California-based company. Earlier this month, PayPal reported second-quarter adjusted operating margins of 21.4 per cent, missing its forecast of 22 per cent. In a post-earnings call, Schulman had said the company was in the final stages of selecting his successor.In a separate statement, Intuit named Marianna Tessel the general manager of its Small Business and Self-Employed Group, a role currently held by Chriss.Schulman was brought into PayPal to steer the firm as a standalone company after it split from e-commerce firm eBay in 2015.
Source: Tech Daily Report (techdailyreport.net)
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