HP CEO Enrique Lores is stepping down to take over as PayPal's leader, effective March 1. His departure comes as a surprise to HP, where he has worked for 36 years, and occurs during a challenging time for the PC market due to rising memory prices. Bruce Broussard has been named interim CEO while HP searches for a permanent replacement.

PayPal has hired Enrique Lores, previously the chair of its board, as CEO to replace Alex Chriss. This change follows disappointing fourth-quarter earnings and a need for stronger execution amid shifting market conditions.

PayPal’s venture arm has appointed Ian Cox Moya as managing partner, succeeding James Loftus, who left to join Velocity Global. Moya, who has been with PayPal for three years and has significant fintech experience in the U.S. and Latin America, will continue to drive the company's investment strategy, which has included substantial investments in fintech, AI, and cryptocurrency startups.