PayPal Reorganizes in Bid to Revive Growth

PayPal Holdings announced a reorganization that includes a new three-business operating model and five leadership appointments.

The company’s three businesses are checkout solutions and PayPal, which includes its consumer and merchant ecosystems; consumer financial services and Venmo, which will expand Venmo into a broader consumer financial services platform; and payment services and crypto, which brings together the company’s processing and platform capabilities, PayPal said in a Wednesday (April 29) press release.

The leadership appointments announced Wednesday include Frank Keller as president of checkout solutions and PayPal, Alexis Sowa as interim lead of consumer financial services and Venmo, and Jeff Pomeroy as interim lead of payment services and crypto.

In addition, Antonio Lucio joins PayPal as chief marketing and corporate affairs officer, and Anshu Bhardwaj has been appointed chief artificial intelligence (AI) transformation and simplification officer.

Two executives will depart PayPal: Diego Scotti, who served as executive vice president and general manager of the consumer group, and Michelle Gill, who served as executive vice president and general manager of the small business and financial services group.

Speaking of the reorganization, PayPal President and CEO Enrique Lores said in the press release: “To accelerate growth and unlock our full potential, we need to recommit to our fundamentals — getting much closer to the consumer, aligning the company around three strong businesses, simplifying how we work, sharpening accountability and prioritizing operational excellence. By aligning our structure with our strategy in this simplified approach, we will be better equipped to drive sustainable growth and value creation for PayPal, our customers and our shareholders.”

Lores became president and CEO of PayPal on March 1, in a leadership change that the company’s board announced Feb. 3 during a fourth quarter earnings call. Lores had served on PayPal’s board for nearly five years and had been board chair since July 2024.

The leadership change followed a board review that found “some progress” but concluded that the pace of change and execution “was not in line with the board’s expectations,” the company said at the time in a press release.

PYMNTS reported at the time that PayPal found itself in a transition year with a reworking of strategy while growth was cooling and there was a deceleration in its online branded checkout franchise.