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President and CEO Dan Schulman Announces Intention to Retire from PayPal at Year-End

Board to Initiate Search for Successor

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that President and CEO Dan Schulman has informed the Board of Directors of his intention to retire from PayPal on December 31, 2023 and that he 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. PayPal makes a difference every day for its customers and communities and the Company is positioned for a great future. It has been a huge privilege to have the opportunity to lead this great company for the past 8 1/2 years. However, I'm at a point in my life where I want to devote more time to my passions outside the workplace. I remain 100 percent committed to working closely with the Board and my eventual successor for a smooth transition and to ensure we keep our positive momentum on track."

John Donahoe , Chairman of the PayPal Board, stated, "Dan has made an extraordinarily positive and lasting impact on PayPal and our people. His decision to retire marks the end of a remarkable run that has seen impressive accomplishments in establishing PayPal as one of the world's most trusted brands and as the leader in democratizing the management and movement of money. He has delivered for our shareholders and other stakeholders. On behalf of the entire Board, I want to thank Dan for his service to date and his commitment to support a smooth transition."

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. Total payment volume grew 5X from $288 billion in 2015 to $1.36 trillion in 2022. Under Schulman's leadership, PayPal introduced customer choice and expanded PayPal's partnerships and impact throughout the global payments ecosystem. Schulman was recognized for introducing a groundbreaking employee financial wellness program that strengthened the financial security of PayPal's employees and for initiating and fulfilling PayPal's leading commitment to invest $535 million in closing the racial wealth gap and advance racial equity in the United States .

During Schulman's tenure, PayPal has been named as one of the top companies on JUST Capital and Forbes' JUST 100 list, ranked as one of the world's most trusted brands, and in 2022 was listed first on Fortune's Companies that Change the World list. Schulman's leadership impact has been recognized throughout his tenure at PayPal. In 2022, he received the Committee for Economic Development (CED) Distinguished Leadership Award and was honored by One Hundred Black Men of New York with the 2022 Excellence in Economic Empowerment Award. In 2021, Schulman was ranked third on Fortune's list of the World's Greatest Leaders and awarded Luxembourg's Order of the Oak Crown honor, presented by Prime Minister Xavier Bettel . In 2020, Schulman received the Robert F. Kennedy Human Rights Ripple of Hope Award. In 2019, Schulman was recognized by Endeavor Global for his work to support entrepreneurs around the globe. He received Visionary Awards from the Financial Health Network in 2018 and the Council for Economic Education for his promotion of economic and financial literacy. Schulman has frequently been recognized by Fortune as one of the top 20 Businesspersons of the Year, has been named one of the top 100 Most Creative People by Fast Company and, in 2019, he was named one of Glassdoor's Top 50 CEOs.

Schulman serves on the World Economic Forum's International Business Council, Board of Governors, and Board of Stewards for the Future of Financial and Monetary Systems, and on the Board of Directors of the Business Roundtable. He also serves on the International Advisory Council of the Singapore Economic Development Board.

PayPal will host a conference call to discuss its fourth quarter and full year 2022 results at 2:00 p.m. Pacific time ( 5:00 p.m. Eastern time ) on February 9, 2023 .

About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering hundreds of millions of consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com .

Investor Relations Contacts:

Gabrielle Rabinovitch , grabinovitch@paypal.com
Ryan Wallace , ryanwallace@paypal.com

Media Relations Contacts:

Amanda Miller , amanmiller@paypal.com
Josh Criscoe , jcriscoe@paypal.com

Cision View original content: https://www.prnewswire.com/news-releases/president-and-ceo-dan-schulman-announces-intention-to-retire-from-paypal-at-year-end-301743529.html

SOURCE PayPal Holdings, Inc.

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PayPal Acquires TIO Networks

Core Innovation Capital and the Center for Financial Services Innovation has announced that their portfolio company has been acquired by PayPal (NASDAQ:PYPL).
As quoted in the press release:

CFSI, the nation’s authority on financial health, made an early investment in TIO Networks in 2005. Core, a venture capital firm investing in leading financial technology companies, invested in TIO in 2013 as part of their mandate to create value for everyday and underserved Americans.
TIO is a cloud-based multi-channel bill payment processor that has processed over $7 billion in payments in 2016 for its 14 million customers. The company delivers convenient access to secure bill pay via kiosk, walk-in, mobile and web solutions.
“Our exceptional financial return is further enhanced by the fact that TIO is one of the most impactful fintechs in the industry, now becoming part of PayPal,” said Arjan Schütte, founder and managing partner of Core.
“PayPal’s acquisition of TIO represents one of CFSI’s greatest impacts to date,” said Jennifer Tescher, founder and CEO of CFSI. “In TIO, we made an early investment that helped a strong innovator become a financial health champion, and the company has built an incredible business around a real consumer pain point, shaped it, and demonstrated that it can be done profitably. Under the larger umbrella of PayPal, TIO should scale even further to benefit more Americans.”
Seventy-nine percent of TIO’s customers are low-to-moderate income, of which a majority pays their bills by giving cash to a teller at a convenience or other retail location. One of the reasons both CFSI and Core invested is that these bills, when expedited, can be extremely expensive. When Core invested in 2013, TIO saved its customers $192 per year on walk-in bill pay charges, relative to the most common alternatives in the market. This translates to an aggregate savings of $290 million in that year alone. TIO is one of the most impactful companies in Core’s portfolio in terms of number of customers served and ratio of underserved customers.

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CEO of Bitcoin Wall Provider Xapo Joins PayPal's Board of Directors

CEO of bitcoin waller provider Xapo has joined PayPal (NASDAQ:PYPL) as a new board member.
Wences Casares, CEO of bitcoin wallet provider Xapo, is the payments giant’s newest board member.
 
According to an article on Fortune:

Wences Casares, CEO of bitcoin wallet provider Xapo, is the payments giant’s newest board member. Payments giant PayPal announced a new board member this morning, potentially signaling the company’s openness to cryptocurrencies. Wences Casares, CEO of bitcoin wallet provider Xapo, joined PayPal’s board and is part of the company’s compensation committee.
Dan Schulman, president and CEO of PayPal PYPL 2.49% , said of the entrepreneur: “Wences’s unique line of sight into the future of commerce is ideally aligned with PayPal’s vision of transforming the management and movement of money for people around the globe.”

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All-Electric Fisker Ocean Extreme Achieves a Combined WLTP Range of up to 707 km/440 UK Miles, the Longest Range of Any Battery Electric SUV Sold in Europe Today

  • Fisker achieves a combined WLTP range of up to 707 km/440 UK miles for the all-electric Fisker Ocean Extreme, exceeding previous estimates
  • Cutting-edge technology provides enough range in the Fisker Ocean Extreme to potentially travel from London to Glasgow or Paris to Frankfurt on a single charge
  • Customers can now configure their Fisker Ocean directly via the Fisker website
  • Fisker expects European homologation by authorities by April 28, 2023, with deliveries following thereafter
  • Fisker Centers+ locations to open across Europe and the US throughout 2023, starting on April 11 th in Vienna and Copenhagen

Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, announces that the all-electric Fisker Ocean Extreme has a combined WLTP range of up to 707 km/440 UK miles 1 , the longest range of any battery electric SUV sold in Europe today, exceeding Fisker's estimates and providing Fisker Ocean owners with range assurance, comfort, and convenience.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230327005270/en/

News Provided by Business Wire via QuoteMedia

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Account-to-Account Payments Set to Revolutionize Shopping, with E-commerce Payments Reaching $525 Billion Globally: Worldpay from FIS 2023 Global Payments Report

Key facts

  • Emerging trend: Account-to-account payments continued to gain momentum in 2022 to account for US$525 billion in global e-commerce transaction value.
  • Global forecast: Global e-commerce market is set to be worth nearly US$8.5 trillion in 2026.
  • Shift in balance of U.S. payments: For the first time, digital wallets surpassed credit cards to become the leading payment method among U.S. consumers shopping online with 32 percent of e-commerce transaction value in 2022.

In 2022, account-to-account (A2A) payments continued to grow across the globe, with the expansion of real-time payment systems helping to provide faster, safer and more convenient payments for consumers at the checkout, according to a new report released today from global financial technology leader FIS ® (NYSE: FIS).

News Provided by Business Wire via QuoteMedia

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FINANCIAL TECHNOLOGY PARTNERS FORMALLY LAUNCHES THE ONLY PURE FINTECH EQUITY RESEARCH PLATFORM - WITH INITIAL COVERAGE OF 25 PUBLIC FINTECH COMPANIES

LAUNCH COVERAGE: ENXTAM:ADYEN, NASDAQ:AFRM, NYSE:AXP, NASDAQ:AVDX, NYSE:BILL, NYSE:SQ, NASDAQ:COIN, NASDAQ:EXFY, NASDAQ:FLYW, NASDAQ:GLBE, NYSE:LMND, NASDAQ:MQ, NYSE:MA, NYSE:NU, NYSE:PAGS, NYSE:PAY, NASDAQ:PYPL, NASDAQ:RELY, NASDAQ:HOOD, NYSE:SHOP, NASDAQ:SOFI, NYSE:TOST, NASDAQ:UPST, NYSE:V, LSE:WISE

For more information: https://www.ftpartners.com/public-equity-research

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Fisker Confirms Banking Relationship With JPMorgan Chase NA

Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, confirms its global banking and treasury management relationship with JPMorgan Chase NA.

"Amid turmoil in the banking sector, Fisker's relationship with JPMorgan Chase provides us with strategic financial strength as we launch our first vehicle, the Fisker Ocean," said Chairman and CEO Henrik Fisker.

News Provided by Business Wire via QuoteMedia

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FIS Long-Term Shareholder News: Contact Johnson Fistel if You Are a Long-Term Shareholder for More Information

Johnson Fistel, LLP is investigating potential claims on behalf of Fidelity National Information Services, Inc. ("Fidelity National" or "the Company") (NYSE: FIS).

If you are a current, long-term shareholder of Fidelity National holding shares before February 9, 2021 , you can click or copy and paste the link below in a browser to join this action:

News Provided by Business Wire via QuoteMedia

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Real Matters Announces CFO Transition

Rodrigo Pinto Appointed as Chief Financial Officer, William Herman to Step Down

Real Matters Inc. ("Real Matters" or the "Company"), a leading network management services platform for the mortgage and insurance industries, today announced the appointment of Rodrigo Pinto as Executive Vice President and Chief Financial Officer effective April 10, 2023. Mr. Pinto succeeds William (Bill) Herman who has notified the Company of his intention to pursue other opportunities. Mr. Herman will remain at the Company through May 5, 2023, to support a seamless transition.

News Provided by Business Wire via QuoteMedia

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