PayPal Holdings President And CEO Dan Schulman To Retire

(RTTNews) - PayPal Holdings Inc. (PYPL) Thursday announced President and CEO Dan Schulman's intention to retire from the company on December 31, 2023.

Schulman has informed his decision to the board and will work with the Board on a smooth leadership transition. Schulman will continue to serve on the Board of Directors. The Board will retain a search firm to help find Schulman's successor.

"I'm proud of what we have accomplished at PayPal and of the incredibly talented and committed people I work with every day," said Schulman. "Together, we have reimagined financial services and e-commerce, and worked to improve the financial health of our customers."

Schulman joined PayPal in 2014 to lead the company as an independent public company following its separation from eBay. Under his leadership, PayPal's market cap growth has outpaced the S&P 500. Revenues increased from $9.2 billion in 2015 to $27.5 billion in 2022, with total active accounts more than doubling to over 430 million in 200 markets.