Source: Semafor
“PayPal said on Tuesday it was booting its CEO and replacing him with its board chair Enrique Lores, sparing no ambiguity as to why: ‘The pace of change and execution was not in line with the Board’s expectations,’ it said in a statement. One group that was blindsided was HP, where Lores was until Tuesday serving as CEO, according to people familiar with the matter. Lores’[s] switchup sent them rushing to launch a search process, those people said. HP’s board does have internal candidates which it’s considering for the top job, according to a person familiar with the board’s thinking. As chair of PayPal’s board, Lores played a role in a process evaluating internal and external candidates. It was unclear when or if he recused himself from the final decision to name him as CEO.” (02/03/26)
https://www.semafor.com/article/02/03/2026/paypals-ceo-change-blindsided-hps-board