SAN FRANCISCO, Aug. 14 -- U.S. payments giant PayPal announced Monday that its senior Intuit executive Alex Chriss will become the new president and CEO, replacing current CEO Dan Schulman. The members of PayPal's board shared the appointment, effective on Sept. 27, 2023, in a press release. Chriss joined Intuit 19 years ago. Since January 2019, he served as Executive Vice President and General Manager of Intuit's Small Business and Self-Employed Group. He grew customers and revenues at a compound annual growth rate of 20 percent and 23 percent, respectively, the board's announcement said.

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