PayPal Holdings said on Monday that Alex Chriss, a top executive at tax-preparation software firm Intuit , would replace its longest-serving chief executive officer Dan Schulman on Sept. 27.
PayPal's shares were up nearly 2.3%, at $62.93, after the news.
Chriss will be taking the helm at a time when the company has been exploring several avenues to pursue growth. Last week, it launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. Cost-cutting measures have also come under investors' scrutiny, as PayPal battens down the hatches to prepare for a potential slowdown.
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