John Donahoe resigns as PayPal Board Chair; Enrique Lores appointed effective July 23, 2024

PayPal Holdings, Inc.

John Donahoe resigned as Chair and Board member effective July 23, 2024; no disagreement cited.
Board reduced size to 11 directors and appointed Enrique Lores (President/CEO of HP Inc.) as new Chair.
Compensation Committee approved severance plan amendment reducing CEO multiple from 2x to 1.5x and EVP from 1.5x to 1x.
Restated plan eliminates Good Reason trigger for EVPs outside CIC and removes prorated cash bonus for Non-CIC terminations.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

John Donahoe

Chair and member of the Board of Directors

PYPL · PayPal Holdings, Inc.

Effective: 2024-07-23
Successor: Enrique Lores
Filed: July 25, 2024, 7:59 PM ET

On July 23, 2024, John Donahoe notified PayPal Holdings, Inc. (the “Company”) of his decision to resign as Chair and member of the Board of Directors of the Company (the “Board”) effective immediately.

Appointed

Enrique Lores

Chair of the Board

PYPL · PayPal Holdings, Inc.

Effective: 2024-07-23
Filed: July 25, 2024, 7:59 PM ET

Effectively immediately upon Mr. Donahoe’s resignation, the Board reduced the size of the Board to eleven (11) directors and appointed Enrique Lores as Chair of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John Donahoe resigned as Chair and member of the Board of Directors at PayPal Holdings, Inc..

Action: resigned
Role: Chair and member of the Board of Directors

Exact text from the filing

On July 23, 2024, John Donahoe notified PayPal Holdings, Inc. (the “Company”) of his decision to resign as Chair and member of the Board of Directors of the Company (the “Board”) effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Enrique Lores was appointed as Chair of the Board at PayPal Holdings, Inc..

Action: appointed
Role: Chair of the Board

Exact text from the filing

Effectively immediately upon Mr. Donahoe’s resignation, the Board reduced the size of the Board to eleven (11) directors and appointed Enrique Lores as Chair of the Board.

View on SEC.gov

PayPal Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-184940

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