skip to main content

In His First Earnings Call As PayPal’s New Boss, Alex Chriss Leaves No Doubt Who’s in Charge

Digital Transactions

Most new corporate chiefs keep a low profile for a time, perhaps tweaking their predecessors’ strategies but announcing few major changes. Not so Alex Chriss. PayPal Holdings Inc.’s new CEO, who took over Sept. 27 from long-time chief Dan Schulman, took the opportunity of his new company’s third-quarter earnings call Wednesday afternoon to hammer home what he sees as important changes in direction, including a stress on profitable growth.

Among other plans, Chriss said he will reverse a decision Schulman announced in May to lay stress on PayPal’s so-called unbranded checkout service, which relies on PayPal’s captive processor, Braintree, and yields lower margins than the company’s traditional, branded checkout service. Investors hammered PayPal’s stock almost immediately after that May call.

Read More – Source