PayPal Holdings, Inc. (NYSE:PYPL) stock plunged more than 20% Tuesday, following a triple threat of bad news: a surprise CEO shake-up, an earnings miss and a weak outlook for the year ahead.
- PYPL stock dumped Tuesday. See the chart and price action here.
Here is the breakdown of what happened and the executives’ commentary on the situation:
Surprise Leadership Shake-up
The biggest shock was the immediate departure of CEO Alex Chriss, who had only been in the role since late 2023.
The board appointed Enrique Lores (currently CEO of HP Inc. (NYSE: HPQ)) to take over as president and CEO on March 1, 2026, and CFO Jamie Miller will act as interim CEO until Lores arrives.
Miller spoke to the surprise CEO …